Cost of Living crisis: New West Foods warns of ‘perfect storm’ with food, pub prices set to rise

New West Foods Managing Director, Damon Venoutsos, warns consumers to expect further price increases at their favourite eateries, as supply chain pressures and soaring input costs continue to drive up prices. Damon states prices increased “very quickly and very dramatically” and that practically no food type had been spared. Takeaway restaurants such as fish and chip shops and pizzerias were among the hardest hit with many of their staple ingredients surging in price.

Independent Food Distributors Australia (IFDA) CEO, Richard Forbes, reveals a number of reasons for this, including clogged ports globally, lockdowns in China, a shortage of sea containers and spiralling domestic energy and transport prices. Richard states that additional costs were being incurred at every step of the production, distribution and storage supply chain, with labour shortages also being a major issue.

View the full article here

Add a Comment

Your email address will not be published.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