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5 foods affected by supply shocks

19-Feb-2024 - Last updated on 19-Feb-2024 at 10:47 GMT

Beef, carrots and salad crops among the foods that could see higher price tags attached. Credit: Getty/LauriPatterson

Related tags Food security Food inflation Trade

While inflation may be easing, the supply chain remains sensitive to shocks, with several food commodities likely to see continued shortages and higher prices than the years before the permacrisis era.

A myriad of events, from the ongoing crisis in Ukraine, to re-routed shipping, to blockages and protests from European farmers, and unfavourable weather conditions have caused issues within the food supply chain.

Within its Spring 2024 market forecast, Lynx Purchasing, which works with a range of suppliers to the hospitality and catering sector, has highlighted five products which will likely be harder or more expensive to get hold of.

1. Fish

Due to changes in sustainability ratings of many species, the report advises hospitality operators to work closely with their suppliers to plan spring menus. It flags that farmed fish may be the best value and most sustainable option for some species, while frozen and processed fish could be affected by higher shipping costs due to the Middle East conflict.

2. Fresh veg and salad

Wet conditions followed by freezing temperatures in the UK have affected a range of crops, both in terms of yield and cost of harvesting. This will have a knock-on affect on fresh vegetables for some months, with carrots, onions and new potatoes most likely to be impacted.

Meanwhile, hot temperatures across Europe last summer and autumn have severely affected salad crops. This means prices may remain high until UK salad crops become more widely available in the spring.

3. Meat

Demand for beef has been keeping cattle prices high, the report also revealed. There has been an influx in demand for premium cuts, such as steaks and toasting joints, and strong demand for lamb shanks across the winter. As spring approaches – and particularly in the lead up to Easter – roasting joints will likely see further demand.

4. Cooking oil

Ongoing conflict between Russia and Ukraine is also expected to keep sunflower oil prices high. Meanwhile, the olive crop was impacted by hot weather last year, adding heightened pressure on this commodity.

5. Wine

Similarly, hot weather conditions last summer caused issues for grape harvests. This has seen wine witnessing higher costs. And although New World wines have better availability, they are likely to be impacted by pricey shipping costs.

In other news, we hear from Tilda's managing director about his strategy since he took on the role shortly before the pandemic. Read the exclusive here. 