Efficient purchasing by leveraging F&B market trend insights
Keeping up to date with what is happening regarding price and availability in the food and beverage market is key for operators to purchase efficiently and effectively. Shortages and price increases impact margins, ensuring your menu is agile and responsive to the current market can mitigate this.
The UK's level of food inflation remains high year on year and at a very similar level to last month at 17.2%. Food production is an energy intensive activity, and with energy costs remaining elevated from the disruption caused to the supply chain from Russia's invasion of Ukraine, these continue to dramatically impact food costs. This is alongside the increase to the costs of raw materials with prices for olive oil, sugar, and milk significantly above their prices 12 months ago.
Looking at the fruit and veg market, the UK is currently in the middle of a very severe potato shortage. Poor yield and quality from the crops laid at the back end of 2022 is to blame. Checking for price increases and potentially seeking a better value brand may be worth doing as pricing will remain high for the foreseeable.
Any larger variety of potato currently on your menu should be reviewed, for the next few months smaller potatoes such as baby or mids will offer best value despite taking similar increases.
Onions and many of the UK grown root veg will remain high until new season crops can be pulled later this year. We recommend using seasons UK crops such as asparagus, broad beans, beets, radishes and watercress to add value and great flavours to your early summer menus.
