-9.1%

Butchery

Market News

Food price rises:

The Sunday Times reports that supermarket bosses have said they do not expect food

prices to fall next year, adding to evidence that inflation will persist through 2024. The national living wage, which acts as a reference point for pay up and down the food supply chain, is forecast to rise above £11 an hour in April, up from its current £10.42. Labour costs are typically the biggest factor in food price inflation.

Food inflation is proving to be among the more stubborn inflationary pressures. Inflation, measured by consumer price index, peaked at 11.1% in October last year. Food inflation hit its peak of 19.1% in March, falling to 12.1% in September. The Bank of England expects food inflation to be 9% in the last 3 months of 2023 and 5% in the first 3 months of 2024.

Business Rates Freeze:

Chefs Tom Kerridge, Monica Galetti and Tom Aikens have led calls for the government

to freeze taxes for hospitality businesses in the upcoming Autumn Statement. The trio have joined more than 230 companies, including Burger King, Travelodge, and Greene King, in calling for business rates to be frozen and a relief package extended into next year.

They have signed an open letter created by trade body UKHospitality which warns the

sector could face an extra £1billion bill next April without help from the Chancellor.

Kerridge said:

"The hospitality industry has taken a battering in recent years, yet pubs, bars, and restaurants all across the nation continue to go above and beyond to provide memorable and outstanding experiences to everyone that comes through the door. "As an industry this is what we love to do. The stark reality for many businesses, however, is that with rising costs and ongoing challenges time is running out and

without further support from Government they will shut their doors."

Olive Oil Prices

Price rises are expected for all new season

Olive Oils as extreme weather has yet again decimated this season’s olive crop with some countries banning exports. Extreme heat, wildfires and drought have devastated

much of the world's olive harvest yet again, driving prices for olive oil to record high prices.

Fish & Seafood News

‘Severe’ marine heatwave recorded around UK and Irish coasts

An alarming new report revealing increased sea warming around the British Isles and Ireland indicates potential challenges for the fish farming sector. The findings by the European Space Agency suggest that some of the most intense marine heat increases on the planet, up to 4C above expected temperatures for this time of year, have been recorded in coastal waters around the UK and Ireland.

The findings are also backed up by the UK’s Met Office. Last summer was the hottest on record and salmon companies in Scotland and Ireland blamed some of their biological problems on those record temperatures. Source (full article) - fishfarmermagazine.com

Government seizes post-Brexit freedoms for fishing industry

The UK Government has set out further steps to deliver a thriving, sustainable fishing industry and healthy marine environment for generations to come. Seizing the opportunities of our freedoms outside the EU, the UK is introducing a world class system of fisheries management which draws on the best available science and the expertise of our fishermen to ensure our fish stocks are healthy

and sustainable long into the future. This new system will be underpinned by Fisheries Management Plans – blueprints for how best to manage fish stocks – including bass, king scallops, crab and lobster; amazing produce which we are renowned for around the world.

Source (full article) - fishfocus.co.uk

Fruit & Vegetables

What’s in season for November?



• Broccoli

• Cavolo Nero

• Rainbow Chard

• Brussel Sprouts

• Celery

• Beetroot

• Hispi & Savoy Cabbage

• Carrots – mixed and Chantenay

• Parsnips

• Watercress

• Pears – Comice & Conference

• Cox Apples

• Plums

• Quince

• Pomegranates

With preparations underway for the impending festive period, we can see some seasonal transitions and key products appearing. The recent wet weather is causing some concern in relation to Potato harvesting and potential availability. While its too early to understand the exact impact it is

worth keeping a close eye on.