Heinz has reportedly increased food prices for more than half of its products in the USA, the company’s home market, and confirmed that higher global food prices are here to stay.
Consumers will have to get used to increasing food prices, as pandemic-shaken economies and the global energy crunch have placed a burden on the world’s food producers.
The warning comes shortly after the UN Food and Agriculture Organization reported that the cost of ingredients, including cereals and oils, has pushed global food prices to a 10-year high.
Due to inflation production of raw materials across the world, ranging from crops to vegetable oils, saw a dramatic decline as the Covid-19 pandemic limited both output and delivery due to the rise of infections and measures to control the virus’ spread.
The industry, and other companies will try to minimize these price increases, and there is a lot to come in technology to improve the effectiveness of farmers that would help in the longer term?
RT. com / ABC Flash Point News 2021.