Consumers should expect higher food prices, warns Heinz boss

FMCG

Shoppers should expect to see higher food prices, according to the Kraft Heinz chief.

Miguel Patricio said the firm is “raising prices, where necessary, around the world” of products including ketchup and baked beans.

Patricio said this was because of a lack of truck drivers in the UK and labour shortages and an increase in logistics costs in the US.

He told the BBC consumers will need to get used to paying more for food due to the world’s rising population and a lack of land to grow produce.

READ MORE: Kraft Heinz to invest £140m into UK manufacturing

However, he added that firms would have to take on the cost rises.

“I think it’s up to us and to the industry and to the other companies to try to minimise these price increases,” he said.

Speaking about the reason behind the increases, Patricio said: “Specifically in the UK, with the lack of truck drivers.

“In (the) US, logistic costs also increased substantially, and there’s a shortage of labour in certain areas of the economy.”

It is also because inflation was “across the board” unlike in previous years, he said.

It comes amid fears over supply chain issues ahead of Christmas.

with PA Wires

Click here to sign up to Grocery Gazette’s free daily email newsletter

FMCG

RELATED POSTS

2 Comments. Leave new

  • Fraser Fundell
    October 11, 2021 8:46 am

    Mr Patricio is quite right concerning increasing population, with some countries actually encouraging this. Also increased gluttony is not helping, coupled with food waste

    Reply
  • I’m sorry but there’s far too many varieties of cereal and flavoured this and that. We need to go back to more simple supplies and cut out all this scaremongering.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.

Menu

SUBSCRIBE TO OUR NEWSLETTER

Sign up to our daily newsletter to get all the latest retail tech news and insights direct to your inbox.

  • This field is for validation purposes and should be left unchanged.