cga prestige foodservice price index (fpi) · foodservice prices are higher year-on-year in most...

CGA Prestige Foodservice Price Index (FPI)Sub Category Report - July 2017

Your source for accurate data, analysis and insights into today’s food prices.

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TheoverallFoodservicePriceIndexinflationfigureof8.8%isdownslightlyfromMay’shighpointof9.0%.ButitisstillmuchhigherthanConsumerPriceIndexinflation,revealinghowmuchmoreexposedfoodserviceistoinflationarypressures. Twonumbersareparticularlynoteworthythismonth.InflationintheFish categoryhasreachedahighof20.8%,whileSugarsistheonlydeflationarycategory,sittingat-5.1%inJune. ThedipforsugarandotherconfectionarycanbeattributedtofactorsincludinganincreaseinbothsugarcaneproductionandyieldsinBrazilandhealthierbeetsugarproductionacrosstheEU.Cocoaprices,havingalreadybeenlow,arepredictedtoremainsowhenthenextharvestbeginsinOctober.Butthiscategory’srelianceonimportsislikelytohurtpricesinthefuture,withrecentreportsontheprogressofBrexitnegotiationscoincidingwithafurtherweakeningoftheBritishpoundagainsttheEuro. Fishhasseensignificantpricerisesacrossthepastyear,andJune’sinflationfiguresitsat20.8%.Pricepressureisparticularlyacuteinsalmon,whichcontinuestosufferfromsealiceinbothNorwegianandScottishfarms.TheworseningexchangeratebetweenthepoundandNorwegiankronehasexacerbatedthesituation,andcommentatorssuggeststerlingwillonlyweakenratherthanstrengthenasBrexitnegotiationscontinue. Oil pricesalsocontinuetoinfluenceallfoodserviceproductstoagreaterorlesserdegree,dependingontheamountoftransportrequired.Whilepriceshavedroppedsincethebeginningof2016,onayear-on-yearbasisthedifferenceisnotgreat.

FoodservicePriceInflation(FPI)isat8.8%year-on-yearforJune2017

Foodservicepricesarehigheryear-on-yearinmostcategories,withthenotableexceptionofSugars,PreservesandConfectionary,wherepricesareactually5.1%lowerthanlastyear.TherateofinflationfortheFishcategoryisalsonoticeablyhigherthismonth,reachinga20.8%increaseoverJune2016.

AbouttheCGAPrestigeFoodservicePriceIndex(FPI)

Food & Non-Alcoholic Beverages - FPI vs CPI

Executive Summary

CGA-Prestige FPI Report - July 2017

+8.8%

333

FPICategoryReportJuly2017

Category

107.3

101.7

103.1

105.5

94.5

98.3

96.6

106.9

99.8

106.3

101.8

96.3

106.5

102.8

99.4

105.1

107.7

95.1

101.5

99.4

Jan 17Jun 16

98.2

104.3

106.3

106.0

99.3

103.4

105.7

110.2

101.4

100.0

101.7

97.0

99.0

101.3

99.2

103.9

106.4

102.3

101.0

99.1

Jul 16 Oct 16

103.4

102.1

107.5

107.6

98.5

101.5

101.2

98.9

101.0

103.4

100.9

96.9

106.9

101.8

97.7

105.0

107.0

103.0

102.0

97.8

Aug 16 Nov 16

104.0

102.1

102.3

107.4

99.8

101.3

101.6

106.2

104.3

103.6

Sep 16 Dec 16

104.9

104.3

101.5

109.4

95.1

97.7

97.7

107.0

101.8

103.0

Abrieflullbeforepricesincreaseagain

Sugarandcocoapricescurrentlylow,butcouldheadupsoon

OliveoilinpotentialcrisisastreediseasehitsSpain

Exchangerates,climbingoilpricesandfruitshortagesraisingprices

Milkfarmgatepricesstillnotenoughto

keepfarmersinsector

Supermarketmovestowards“BritishOnly”meathittingsupply

SevereshortfallsinEUharvestsconstraining

supply

Salmonandtunapricescontinuetopushhigher

Coffee,cocoaandteaallheadingupwards

MoreBritishgrowingseasons

starting,butexchangeratesstillaconcern

Foodservice Price Index June 2017 +8.8%

102.3 105.2 110.0 110.4 114.1

102.3 107.5 109.2 112.2 108.6

103.6 104.0 107.2 114.1 121.0

97.0 101.0 102.0 109.2 109.7

100.1 103.1 103.3 106.6 106.4

100.2 103.5 105.6 109.7 116.6

107.2 116.5 106.9 110.6 114.8

104.3 106.6 105.0 102.8 96.4

104.7 108.1 105.9 111.7 110.4

Feb 17 Mar 17 Apr 17 May17 Jun 17

106.6 108.4 106.4 110.6 111.3


Pricesarestillclimbingformanycategories,withonlysugarsshowingnegativeinflationthismonth.Allindicationsarethatpriceswillcontinuetoincreaseintheshort-term,however.

Category Summary

All findings for June 2017 relative to June 2016

4

FPICategoryReportJuly2017

OurgraphbelowshowsFPIperformanceoverthepastyear,alongwitharollingone-yearforecast.Inflationsitsat8.8%thismonth,withourforecastnowreflectingaharderpositiononthesterlingexchangerategoingforward.

Historical Performance & Forecast

Jan 17

101.8101.3 106.0

Jun 16 Jun 17

101.8

Apr 17

101.4

Feb 17 Mar 17

109.2

Jul 16

102.8

May 17

102.2101.1 110.0

Aug 16 Sep 16 Oct 16 Nov 16

101.5

Dec 16

102.4 106.7


Asobservedbefore,oilpriceshavebecomeunpredictable.WhilepriceshavegenerallybeentrendingupwardssincethemiddleofJune,that’snoindicatorofwhatitwilldointhefuture-indeed,acrossthesamelengthoftimebetweenMayandJune,pricestumbledby$10perbarrel. TheongoingBrexitnegotiations,especiallythoseelementsthatcentrearoundtherightsofEUcitizensintheUKgoingforward,continuetohaveaneffectonhowtheUKisperceivedasaplacetocomeandwork.Whilewehavealreadypointedouttheeffectontemporaryfarmworkersbefore,foodserviceingeneralhasastrongforeignlabourcomponent. Giventheseemingreluctanceofdomesticworkerstoapplyforsimilarroles(onerestaurantchaincommentedrecentlythatonlyoneinfiftyapplicantsforpositionswasBritish),labourcostsmaysoonneedtoriseinordertoensuremealsarebeingserved,whichwillinevitablypassthroughintofoodprices. Asnotedlastmonth,however,FruitandVegetablesarestillthecategoriestowatchwithregardstopriceincreasesduetoreducedlabouravailability.Whencombinedwiththeincreasedpressureoftheweakerpound(bothonforeignworkerwages,aswellasimportedproducts),thesecategoriescouldwellbeourbestwindowintowhatthefutureholdsforfoodprices.

101.1 101.4 101.8 101.5102.4

106.0

110.0

108.8

113.2

98.0

102.0

106.0

110.0

114.0

Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18

FPI Low Forecast High Forecast

5

Breadandcerealpricesareupby4.8%comparedtothistimelastyear.WhileunexpectedlywarmanddryweathercontinuestoaffectgrowthintheUK,globalfactorsalsoplaytheirpart,withUSwinterwheatdisappointing,whilefactorsatplayinRussian,UkraineandKazakhstanalsopushwheatpricesup.Butterpricesarealsoservingtopushthiscategoryup.

Bread & Cereals

Whiletheinflationfigureforthismonthmaybethelowestseenthisyear,itseemstobeverymuchthecalmbeforethestorm,astherearestillforcesatworkonglobalwheatproductionthatthreatentocutintosupplyandpushpricesup. Asreportedlastmonth,somedisappointingyieldsforhardredwinterwheatandgeneralpoorprojectionsforwheatproductioninEasternEurope,togetherwithfarmerslookingtoreducewheatplantingsinfavourofmoreprofitablecrops,haveservedtodentproduction.Theoverarchingissueforglobalwheat,however,continuestobetheweather.OngoingdroughtdamagetocropsintheUSandCanadahaveweighedmoreheavilyonproductionthere,withwheatfuturespricesgoinguptoreflectthis. TheUKhasalsoseenproductionhamperedbytheweather,whichhasseenusbecominganetimporterofwheatforthe2016/2017period,apositiontheUKhasonlyfounditselfinthreetimeinthelasttwodecades.Anincreaseinimportsalsomeansincreasedexposuretopoorexchangeratesthatsuchapositionbrings. Whileitmaytakeafewmonthsfortheseeffectstofilterthrough,theyeventuallymust,andwhentheydowecanexpectpricestoriseaccordingly.

FPISub-CategoryReportJuly2017

CurrentinflationFPI | 1.3% 12mthForecast | 1.0%


97.897.1

98.597.9 97.6

98.5

99.8 98.0

99.9

100.3101.1

100.5 100.8

105.1

103.9

105.0

103.4

101.5 101.3

98.397.7

100.1

103.1103.3

106.6 106.4

96.0

100.0

104.0

108.0

Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 CPI FPI

6

AmbientHotBeveragesareup12.0%comparedtolastyear,andpricesareupcomparedtolastmonthtoo.Commoditypricesacrossallthreemajorareasinthiscategoriesareup,andthisisexacerbatedbyexchangerates.

Ambient Hot Beverages

Coffeemarketprices,havingfallenacrossthestartoftheyear,havebeguntoevenoutandarenowpickingup.Thisisconsistentwithmorerecentpredictionsthatcoffeefuturespricesaresettogoupacrossthenextfewyears,effectivelyapredictionofwherepriceswillhead.Thiswilllikelybedowntocontinueddemandclashingwithdesirestorebuildstockpilesthathavebecomedepleted. AfterhittingalowpointinMay,pricesforcocoahavebeguntocreepbackupwards.TradersinGhanaandIvoryCoastcocoahaveindicatedthatanincomingperiodofraininthesetwocountrieswillaffectthemidcropseason,buthavebeenunabletoagreeonwhatthismeans,splitbetweenwhetheritwillhaveapositiveornegativeeffect.Regardless,somearealreadypredictingthatthepricewillhaveincreasedbytheendof2017. Teapricesalsocontinuetogoup,withsuppliesofoneofthemostexpensiveteas,Darjeeling,disruptedbyunrestinrelevantgrowingregions,haltingpickingofthehighlyprizedsecond-flushoftea.Kenyanteahasalsoincreasedinpriceduetosupplyshortagescausedbyerraticcropping,makingithardtopredicthowmuchproductionwillbeachieved. Foralltheseindividualcommodities,however,bythetimetheproductsarriveintheUK,priceshavebeenaffectedbythelowvalueofthepound,meaningthatevenifcommoditypricesfall,theyarestillmoreexpensivetoimport.




100.5 100.2

101.4

100.3

98.5

100.198.8

100.3

104.5103.5

105.1103.8

105.4

101.8 101.7100.9

98.2

103.4104.0

107.3

104.9

102.3

105.2

110.8 110.4

114.1

96.0

101.0

106.0

111.0

116.0

Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17

CPI FPI

7

Fishpriceshaveincreasedsignificantly,now20.8%higherthanatthispointlastyear.ThecontinuedhardshipssufferedbytheScottishsalmonindustrycontribute,asdoongoingconcernovertunaandcodquotas.

Fish

Sightingsofhumpback(pink)salmonhavebeenreportedinScotlandandIreland.Whileanotherspeciesofsalmoncouldbearguedtobeapositiveinfluenceonriverswithexistingsalmonpopulations,thecompetitioncouldhaveanegativeimpactonnativeAtlanticsalmon,unwelcomenewswhenthesalmonindustryisalreadysufferingfromasealouseepidemicthattheyhavestruggledtocontain. Norwegiansalmonhasbeenmorestablebycomparison,havingcomedownslightlyinpriceacrossJune,butpriceshavebeguntocomebackupinJuly,andareanticipatedtocontinuedoingso. Tunapricesarealsosignificantlyinflatedcomparedtolastyear–asexplainedinpreviousreports,thereareseveralreasonsforthis,includingintroductionofsustainabilitymeasuresintoIndianOceanfishing.Thequotasystemwillnecessarilyconstraincatchesandthereforesupply. Whilecodpriceshavealsoelevatedonconcernsoversustainablefishing,therehasatleastbeensomegoodnewsonthisfront-NorthSeaCodhasbeenlabelledassustainablebytheMarineStewardshipCouncil,thefirsttimein20yearsithasheldthislabel.Notonlydoesthisaddapotentialsourceofcod,butthiswouldessentiallybedomestic,reducingtheadditionallayerofexchangeratesthatmightotherwisepushupprices.Itremainstobeseentowhatlevelthiscodcanbefished,butcouldbebeneficialtobuyersnotonlylookingtogetabetterpriceforcod,butbeapartofsustainablefishing,too.




95.898.4 98.1

96.8

99.6

99.3 99.9 100.2

104.8 104.8103.5

105.8

107.9

95.1

102.3 103.0

110.2

98.9

106.2 106.9 107.0 107.2

116.5

106.9

110.6

114.8

92.0

100.0

108.0

116.0


8

Fruitpriceinflationisnowat13.6%forJune,asthisimport-dependantcategorystruggleswiththeweakenedvalueofthepoundandtheeffectsofpoorweather.

Fruit

Asdetailedinourpreviousreport,theaftereffectsofpoorweathercontinuetoimpactthemostpopularfruithereintheUK. SeveralproducersoffruitacrosstheEUhavebeenforcedtocuttheirharvestforecastsconsiderably.Belgium,forexample,estimatedthatapplegrowerstherewillseetheirharvestscutbyupto70%,andwhilepearsaredoingbetter,theyarealsoanticipatedtobecutbyupto20%.Withsuchaseverecutinavailablefruit,itisfearedthattheworst-hitproducersmayabandonfruitgrowingaltogether.Germangrowthhasalsobeenaffectedacrossavarietyofproduce,withthedamageandestimatedimpactonharvestsgrowingmoreseverethefurthersouthandwestonegoes,whileItalyisalsoexpectingupto25%reductionsinharvests. LookingbeyondEurope,theUKisseeingproblemsinotherfruitsources,especiallythosethatsupplyuswithourcitrus–SouthAfricaandArgentinahavealsoseenproductionissuesthathascutintoavailablesupplies,whichiscompoundedbythefactthatthesecountriesalsosupplymarketsintheFarEastandMiddleEast,bothofwhicharepreparedtopayhigherpricesthanthoseinEuropeortheUK. Ontopoftheseconcernsandupwardpressuresonprice,asacategorythatleansheavilyonimportstheeffectsoftheweakerpoundisinescapable.TakingEuropeanimportsandtheEuroasanexample,comparedtoJune’16whentheexchangereachedaround€1.31/£1,attimeofwritingtheexchangerateisamuchlower€1.11/£1.Unlessthingsbegintoimprove,bothintermsofharvestyieldsandthevalueofthepound,wecanexpectpricestocontinuegoingup.




99.397.8

98.8

101.1102.3

105.6 105.6

101.2102.5 103.7

103.5 102.9 102.5

106.5

99.0

106.9 106.3107.5

102.3 103.1 101.5103.6 104.0

107.2

114.1

121.0

94.0

102.0

110.0

118.0

126.0


9

Meatpricesareup11.0%comparedtolastyear.Withtheexceptionofchicken,mostmajormeattypesareup,duetoincreaseddemandandreducedsupply,partlyduetonewcommitmentsfromsomesupermarketstohave“British-only”freshmeat.

Meat

Demandacrossseveraltypesofmeatislikelytoincrease,dueinparttofirstCo-OpandnowMorrison’smovingtosellingBritish-onlyfreshmeat,amoveintendedtocutbackonimportcosts. Standardpigpriceshavebeensteadilyincreasingsincethebeginningoftheyear,understandablewhenconsideringthatUKpigslaughteringsaredown,combinedwiththeaverageslaughterweightalsocomingdownforthefourthconsecutivemonth,reducingsupply Beefpricesremainhigh,withfarmersinbothBritainandNorthernIrelandseeingsteadydemand.SomeabbatoirsinIrelandhaveindicatedthattheywanttopullbeefpricesdown,thoughfarmershavebeenadvisedtostandfirmagainstanyattempttodevaluetheirproductwhendemandishealthy. Lambpricesarealsouphere,asfallingexportsfromNewZealandaddadditionalpressuretosupplieshereandinEurope,asexportslooktotakeadvantageofthelull-thelowvalueofthepoundinparticularmakesourlambmoreattractivetoimportersintheEUandelsewhere.Thismeanslambissubjecttoadditionaldemandbothathomeandabroad,whichcannothelpbutputupprices.




96.395.0 95.4 95.3 94.8 95.0

95.9 96.2 96.6 96.797.5 97.2 97.6

99.4 99.197.8

100.0

103.4 103.6

106.3

103.0

104.7

108.1

105.9

111.7110.4

92.0

98.0

104.0

110.0


10

Pricesinthiscategoryare10.4%higherthanatthistimelastyear,acombinationofreducedsupply,increaseddemandbothhereandabroadforprocessedgoodssuchasbutter,creamandcheeseandsteadilyincreasingfarmgatepricesformilk.

Aspredictedinlastmonth’sreport,followingafarmgatepriceriseformilkof1.65pplfromArla,otherprocessorsarenowfollowingsuit,withMullerhavingannouncedanincreaseof1.5pplwitheffectfrom1stAugust.Whilethismeansthatpricesformilkanddairyproductswillinevitablyincrease,priceshavenotyetreachedapointtostoptheexodusoffarmersfromdairyfarming. Fromthis,onecanseewherethegrowingconcernaboutavailabilityofbutterandcreamaroundChristmastimehassprungfrom–thenumberofsourcesformilkhasalreadydwindledenoughthatsupplyhasstartedtobecomeconstrained,andthiscanonlycontinueuntilfarmersbegintoseeaprofitfromdairyfarming.Untilthen,weshouldexpectsuppliestoshrink,andpricestogrow. Theoneareainwhichpricesmaymovedifferentlyischeese,andeventhenprimarilyforexportsandimports–whilethepoundisweakened,domesticcheeseismorefavourablypricedforoverseasbuyers,butimportedcheesepricesarehigher.




95.596.9

96.7

95.8 95.7 96.096.5

96.0

96.6

98.297.4

98.2 98.299.4 99.2

97.7

99.398.5

99.8

94.595.1

97.0

101.0102.0

109.2109.7

92.0

98.0

104.0

110.0


CPI FPI

11

Pricesare8.3%highercomparedtolastyearforthiscategory,withimportcostsand,toalesserextent,increasedfruitpricescontributing.

Mineral Waters, Soft Drinks & Juices

Juicesinparticularwillseepricesgoupintheshorttomediumterm,duetoissueswithsuppliesinbothcitrusandotherfruits,includingthereducedharvestexpectationsforapplesacrossEUgrowers.Sugarsposelessofaproblem,thoughitmaytakesomemonthsforthebenefitsofincreasedharvestsofcaneandbeetsugarstobefeltinthesector. OilpricesfellacrossthemajorityofJune,reducingthefuelcostsforshippingaswellaspackagingcostsforthoseproductsthatcomeinplasticbottles.WhileoilpriceshavebeenerraticsinceMarchofthisyear,pricesarenowbeginningtomovebackupagain,soweshouldnotexpectanypricereductionsheretohaveanyprolongedeffect. Forthoseelementsthatareimported,theweakerpoundonceagaincomesintoplay–takingtheEuroasanexample,June’16’sexchangerateofaround€1.31/£1,whencomparedtothecurrentrateofaround€1.11/£1,showsthatimportcostswillhaveincreasedsignificantly. Wearealsolikelytoseemarketingeffortsbythemajorplayersinthesectorincrease,especiallyafternewsthatinAmericain2016,bottledwaterovertookcarbonatedsoftdrinks.Thisisnotapositionthatthebigsoftdrinkcompanieswilltakelyingdown,especiallywhenthereareotherconcernsforthemtodealwith,suchastheimpendingsugartaxinApril2018.




98.997.2

95.5

98.3

94.6 94.2

95.597.3

96.895.4 95.7

96.6 96.9

107.7106.4 107.0

105.7

101.2 101.6

96.697.7

102.3

107.5109.2

112.2

116.6

90.0

96.0

102.0

108.0

114.0


CPI FPI

12

InflationforOils&Fatsisat12.8%thismonth,asoliveoilcontinuestobebothinshortsupplyandunderseriousthreatfromdisease,andallimportedoilssufferfromtheweakervalueofGBP.

Oils & Fats

OliveOilprices,alreadypushedupbyshortsupplyandtreediseaseinseveralkeygrowingareas,arenowfacingthethreatoffurthershortages–theincurabletree-killingbacteria(Xylellafastidiosa)thathascutintosupplieselsewherehasnowfounditswaytoSpain,fromwhichmorethanhalftheworld’soliveoiloriginates.Ifmeasuresarenottakentocontainandcontrolthedisease,orelseformulateacure,shortagescouldbecomemuchmoresevereinthemediumtolongterm. PalmOilpriceshave,onaverage,heldinplaceacrossthepastfewmonths,butthetensionaroundtheoilasoneoftheimportantdriversofdeforestationcontinues.HSBChasrecentlytriggeredaninvestigationintopalmoil-relateddeforestationinPapua,involvinganoutsideinvestigatorybody. Coconutoilcontinuestobecomemoreandmorepopular,butashasbeendiscussedinthepast,thisisaproductthenatureofwhichmeansthereisanessentialconflict,asonemustchooseifcoconutswillberaisedfortheiroilorwater,astheycanonlyproduceoneortheother. Allsuchoilsare,ofcourse,imported,andthereforepricesaretiedtothevalueofthepound–asdetailedelsewhere,ongoingBrexitnegotiationscouldseethatvaluefallfurther.




99.698.2

101.7

99.598.5

97.1

102.1

102.7103.4

106.2

99.3

102.5

104.8

96.397.0 96.9

104.3

102.1 102.1 101.7

104.3

100.2

103.5

105.6

109.7108.6

94.0

100.0

106.0

112.0


13

Unlikeanyothercategorythismonth,pricesforsugarsandchocolatehavedecreasedby5.1%comparedtolastyear,asfallingpricesforsugarandcompetitivecocoapricesmanagetonegatetheeffectofworsenedexchangerates.

Sugar, Jam, Syrups, Chocolate & Confectionary

Brazilcontinuestoenjoybetterandmoreproductivesugarcaneharvests.SugarbeetfarmersintheUKhavenowbeenofferedcontracttermsbyBritishSugar,whichcoupledwiththeremovalofcapsonbeetsugarproductionshouldseepricescomedownfurtherinthemediumterm. Cocoapricesarestilllow,andwhiletheviewfromthefuturesmarketisforagradualmoveupwards,anabundanceofsupplyisstillexpected,whichwillstealawayanyupwardsmomentum.Heavyrainhasaffectedtheexistingcrop,andyetisalsolayingthegroundworkforthenextcrop,betweenOctoberandMarch,tobehealthy,solongasitisbackedupbyadequatesun. Onceagain,exchangeratesfactorin,butinthisinstancethelowervalueofthepound(andthereforethehighercostofimporting)hasbeenoutweighedbythereductionsinpriceseeninthemainingredientsforthiscategory.


CurrentinflationFPI | -5.1% 12mthForecast | -2.4%


97.6 97.8

99.9

97.0

98.0

96.6 96.6

101.4

98.2 98.6

99.9

101.4

98.7

101.5101.0

102.0101.4 101.0

104.3

99.8

101.8

104.3

106.6

105.0

102.8

96.4

94.0

98.0

102.0

106.0


CPI FPI

14

Vegetablepricesare8.2%highercomparedtolastyear,thoughweshouldexpecttoseethiseaseasmoreUKgrowersstarttheirharvests.Exchangerates,whilenotassignificantforvegetablesasfruit,arestillservingtokeeppriceshigher,andthediminishinginterestintheUKasaworkdestinationforforeignlabourcouldexacerbatethismoreandmoreastimegoeson.

Vegetables (including Potatoes)

IndustrybodyAHDBPotatoeshaswarnedfarmersthatthereislikelytobeasurgeinsupplylaterthisyear,duetoanincreaseintheareaplanted.NorthernIrelandhasalreadyseengoodweatherpushforwardharvestingbytwoweeks,andonceagaingrowingareahasrisen. TheBritishcarrotseasonhasnowstarted-sofaryieldsandqualityappeargoodandpointtoagoodseasonahead.TheUKisfairlyself-sufficientwhenitcomestocarrots,andwhilethedryweatherhasbeenafactor,duetowhentheseasonstartscarrotshavebenefittedfrommorerecentwetterweather,withirrigationavailabletomakeupanyshortfallintherain. Pricesforbrassicasuchasbroccoliandcauliflower,meanwhile,brieflyincreasedinLondonmarketsfollowingthehotspellinearlysummer. Whilethevegetablesectorhasastrongerdomesticelementthanfruit(whichlessenstheeffectofexchangerates)asmentionedinlastmonth’sreporttheBrexitnegotiationsarealsoaffectinghowthecountryisperceivedbyforeignworkers.Whiletheweakerpoundmakeswagesherelessattractive,sotheincreasinglynegativesentimentaroundtheUK’sperceivedattitudestoforeignworkersmakesjobsintheproducesector,whichtraditionallyreliesontemporary,migrantlabour,ahardersell.




94.795.9

94.895.9

94.1 94.495.2

96.3

98.5 98.7 98.897.7

96.8

102.8101.3 101.8

106.0

107.6 107.4

105.5

109.4

106.6

108.4

106.4

110.6111.3

92.0

98.0

104.0

110.0


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Procurement TransformationForestablishedbusinessesthathaveyettoestablish“strategicprocurement”andwishtointroducenational,regionalorglobalsupplyarrangements,oftenestablishingtheirownteamtodevelopandmaintainthem. Procurement Support ServicesAportfolioofservicestosupportfullyestablishedprocurementandsupplychainteamsintheirmissiontoaddvaluetotheirorganisation.ServicesincludeInsight,Training,AnalyticsandBenchmarking. Our services are 100% Transparent FIXED fee based and deliver between 2 and 7 times return on investment all backed up with financial guarantees. We do not aggregate volume with other operators and build each project or service bespoke for each of our clients’ needs delivering the maximum benefit to our clients bottom line.

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MichaelLukeCommercial Director [email protected]

GraemeLoudonCommercial Director [email protected]

ShaunAllenChief Executive [email protected]

FionaSpeakmanClient [email protected]

cga prestige foodservice price index (fpi) · foodservice prices are higher year-on-year in most...

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