Dairy farmers are set to lose more on the value of their milk in 2016/17 than in the previous 12 months, despite recent positive moves from processors to raise prices, an accountancy firm has revealed.
Walkers crisps and fish fingers maker Birds Eye were the latest to blame the weak pound on price increases, after they raised their prices by up to 10 % and 12% respectively.
Morrisons has raised the price of 92 Unilever products, including Marmite, just days after Tesco’s highly public row over Unilever’s price increase demands.
The food sector is so competitive that price wars between retailers may reduce the financial impact of Brexit on shoppers, said grocery think-tank IGD chief executive Joanne Denney-Finch.
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).
Collaboration between food manufacturers that share distribution activities with competitors and others to reduce costs should be more widely publicised to help more firms adopt these practices, the Freight Transport Association (FTA) has urged.
Vision systems provide a cost-efficient approach to inspecting the fill consistency of beverages and the quality of their packaging, claims Dan Rossek, product marketing manager at automation specialist Omron.
Losses for Boparan Holdings, the holding company for 2 Sisters Food Group, have widened to £27.5M from £12.3M a year ago, as the company continued to cut costs and capital expenditure, a second quarter trading update has shown.
Morrisons has reported a £176M loss in full-year results to February 2, compared with a previous profit of £879M, as the supermarket revealed plans to slash costs and lower prices in a bid to battle the discounters.
