The number of UK food and drink businesses placed into administration during the first half of 2023 is up 110% year-on-year, according to new findings from insights firm Kroll.
UK food and drink manufacturing production costs fell for the first time in seven years in May, indicating some broadening in the easing of cost pressures across the UK economy.
Food supply is so interconnected globally, and its distribution so inherently fragile, that the UK is only a disaster away from a food supply shortage, an expert in global food security has cautioned.
Morten Wierod, President of ABB Electrification, explores the additional pressure that soaring energy costs are putting on businesses worldwide and how you can avoid sacrificing employee benefits in the face of high prices.
Food Manufacture recently aired a webinar that explored how food manufacturers could reduce costs without negatively influencing food integrity. Here are the highlights from our expert guest speakers.
Food inflation has risen to 19.2% in March from 18.2% in February, the highest rate in 45 years, rocketing ahead of CPI’s inflation of 10.1%, according to Office of National Statistics figures.
Food and drink inflation accelerated to 18.2% in the year to February 2023, the highest level of inflation in the past 45 years, according to the latest figures from the Office of National Statistics (ONS).
Food Manufacture’s Bethan Grylls speaks to several experts to find out how inflation, climate change and supply chain woes will influence buying behaviour, new product development and operations in 2023.
With the last several years including a series of unprecedented events and challenges, Food Manufacture seeks the expertise of several food and drink leaders to find out what’s on the cards for 2023.
Food and drink firms will be unable to absorb the massive price rises set to rock the industry in the wake of record high inflation figures, warned the British Frozen Food Federation (BFFF).
Action needs to be taken to curb the ‘terrifying’ rate of food inflation in the UK, Food and Drink Federation (FDF) chief executive Ian Wright has warned.
Food and drink manufacturers reported the sharpest month-on-month price increases, as input cost inflation neared record highs, according to the latest Lloyds Bank UK Recovery Tracker.
Kraft Heinz chief executive Miguel Patricio has warned people to get used to higher food prices, as rising production costs continue to put pressure on producers.
Price inflation primarily fuelled seafood sales value growth over Christmas 2017, up 4.4% to £171m compared to the 2016 festive period, according to UK seafood industry body Seafish.
Food inflation in the UK is continuing to spiral, according to several recent reports, with commentators raising concerns about the uncertainty over Brexit, the value of sterling and the continued rise in food prices.
Pay increases in the manufacturing sector – including food and drink firms – are slightly ahead of consumer price inflation, revealed EEF, the manufacturer’s organisation.
Rising food prices can be expected in 2017 – reversing the deflationary trend of recent years – as news emerged from the Office for National Statistics (ONS) that inflation overall in the UK in November had climbed to its highest level in two years.
The cost of manufacturing food and drink products has risen 4.3% over the past 12 months across all sectors, according to latest data from the Office for National Statistics (ONS).
Frozen food manufacturing products are set to rise in popularity, based on consumers’ preference for less waste and higher nutrient value, according to a report from the British Frozen Food Federation (BFFF).
Greencore’s food-to-go strategy is working well, both at home and in the US, claims ceo Patrick Coveney, as the manufacturer posted half-year group revenue up by 7.5% to £691.6M.
Food deflation remains a persistent feature of the UK economy, despite the latest figures from the Office for National Statistics (ONS) showing headline inflation up 0.5% in March.
A potential UK exit from the EU would have an economically damaging impact on the UK food and drink manufacturing sector, the boss of the world’s largest sandwich maker has warned.
The food sector faces considerable uncertainty about what the retail landscape will look like next year, given the monumental changes coming down the line not least the introduction of a National Living Wage (NLW) of £7.20 an hour next April.
Manufacturers faced mixed news last month with the release of government statistics showing food deflation in July at “one of the lowest values ever recorded”.
Bakkavor’s strategy of focusing on the UK, US and Asia is “working well”, according to the firm’s first-quarter results for the 13 weeks to March 28, which revealed revenue up by 4% at £425.5M.
Bakkavor has boosted its UK market share for the third consecutive year, despite battling rising input costs, according to results for its fourth financial quarter (Q4).
Premier Foods saw branded value sales fall in its third financial quarter (Q3) as the maker of Mr Kipling cakes and Ambrosia desserts was stung by supermarkets losing share to discounters.
Sainsbury’s third consecutive quarter of falling like-for-like sales represents a watershed, not just for the beleaguered retailer but the whole fast-moving UK grocery sector, agreed most City and retail analysts. Here, we capture their verdict, at a...
Discount retailers Aldi and Lidl are continuing to win sales and have seen their market share hit new records, at the expense of Tesco and Morrisons, according to the latest grocery share figures from Kantar Worldpanel.
Food price increases could throttle back in the next year amid expectations of a strong global harvest, analyst Darren Shirley at Shore Capital has predicted.
Cake maker Finsbury Food Group has reported relatively flat sales for the half year to December 29, up marginally to £103.3M compared with £102M for the same period of the previous year and in-line with management expectations.
Unseasonable weather is the biggest threat to the UK’s trend of falling food inflation, according to forecasts from European Food and Farming Partnerships (EFFP).
News that food price inflation had slowed in October gave hard-pressed shoppers some respite. Whether this will lead to greater stability in the roller coaster rise of volatile input costs for manufacturers is another matter.
