Britain’s biggest sandwich maker Greencore, which supplies retailers such as Tesco, Aldi and M&S, has warned the rising cost of fish is causing shoppers to switch from sushi to sandwiches.
The supplier has said the number sandwiches it sells has risen 3.5% in the year to October, compared with the year before, The Telegraph reported.
Chief executive Dalton Philips told the newspaper that at the same time, sushi is becoming “less accessible” for consumers as “the price is now at such a high level”.
He said the main reason for this was “inflationary factors,” adding “it’s the cost of production of fish. Some of it is farmed, some of it is wild, but either way, there’s been huge increases in that supply chain”.
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Philips added that office workers have been moving away from fast food chains to buy their lunch, opting for supermarket meal deals for “almost half the price”.
“Over 52% of all sandwiches sold are sold as a meal deal. A meal deal is approximately £3.50 for a sandwich, drink and a snack.”
Philips revealed that Greencore was hit with an additional £200m in costs over the past year.
However, the company mitigated this by cost increases, product and range formulations, and alternative sourcing.
In the year to 29 September, pre-tax profit for the group increased 13.6% to £45.2m, while sales were up 19% to £1.9bn.
