Food boss says consumers should expect higher food prices

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Consumers should inculcate the habit of high food prices, ns Owner huge of food kraft henzo Said.

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Miguel Patricio, head of an international food brand that makes tomato sauce and baked beans, said he has been forced to raise prices in several countries.

Patricio said Kraft Heinz has had to increase the price of half of its products in its home market in the US, with expected increases in other countries.

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Patricio said a wide range of factors were contributing to the rising cost of products.

He said inflation was “across the board” and inevitable.

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Meanwhile, the Food and Agriculture Organization of the United Nations reports that prices of ingredients such as grain and oil mean food costs are now at 10-year highs.

The production of raw materials has decreased during the pandemic. Now some producers are struggling to return to full demand – pushing up prices.

Wages and energy prices are also rising in some areas.

“We are raising prices around the world, where necessary,” he told the BBC.

“Especially in the UK, with a shortage of truck drivers. In [the] American logistics costs have also increased significantly, and some sectors of the economy have labor shortages.”

Mr Patricio said the burden of all price increases should not be passed on to consumers. He said that food firms will have to bear some of the cost of increase in cost.

“I think it’s up to us, and for the industry, and for other companies to try to reduce these price increases,” he said.

This week PepsiCo warns It was also facing rising costs and the hike in prices was likely to start in 2021.

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