7.9%

Butchery

Commodities Report

Food Inflation

The food and drink sector received small but welcome relief on soaring prices as inflation dropped to 18.9% in March 2023. It was the fourth consecutive fall in year-on-year inflation and the first time in five months that the rate has dipped below 20%. The downward trend has been driven by an easing of prices in key commodities. The dairy and oils & fats categories both recorded month-on-month deflation on the back of improved availability, aided by increased milk production and falling edible oil prices. 

MPs launch food supply chain probe

MPs have launched an investigation to determine whether some players in Britain's food supply chain are 'unduly' profiting from surging food prices. The comprehensive 'farm to fork' probe will be led by the cross-party Environment, Food and Rural Affairs (EFRA) Committee. MPs will look into whether risks and profits are shared fairly among farmers, food manufacturers, other suppliers and supermarkets. They will also examine the impact of external factors such as imported food and surging global commodity prices.

Eggs

Over the past 12-18 months the egg market has seen a number of challenges. As a result of the pandemic, several factors have contributed to a reduction in chick placement, leading to insufficient supply available to meet the continued growth in demand we’re seeing in the market.

Unfortunately this situation is showing no signs of abating, and we are therefore anticipating that this will continue into 2024. 

Eggs are a naturally produced product, meaning egg production is totally reliant on the number of laying birds. We have seen chick placement numbers reduce throughout 2022 compared with the previous two years, and this trend has continued into 2023. As a result of the reduced numbers of new birds placed in the UK, existing flocks are now reaching the end of their laying life, and there are not sufficient numbers of new birds to take their place and maintain supply at current levels.

Fruit & Vegetables

What’s in season for May?



• English Asparagus

• English Strawberries

• Cornish New Potatoes

• Jersey Royal Potatoes

• Purple Sprouting Broccoli

May is an absolute joy in the seasonal calendar with an abundance of wonderful products.

English Strawberries have just started to arrive on the market. They are still a little expensive and the flavour is not as good as it will be over the coming months.

After a hard winter and spring for Moroccan and Spanish growers, it’s great to finally welcome the start of the Dutch season. They are less dependent on the weather as they grow much of their produce in greenhouses.

End of season

• Forced Rhubarb

• English Cauliflower

• UK grown Apples & Pears

• Wild Garlic

Butchery

Beef:



UK beef prices have continued to rise and have been reaching record levels. This is due to less cattle being farmed amid struggling profitability and environmental pressures on farmers. EU beef is also facing the same issues and is forecasted to see a decline in production, pushing prices up.

Lamb

New season UK lamb is available but pricing is prohibitive. We expect to see better availability and lower prices in June when the UK season starts fully.

Poultry

We have seen a sustained period of consistent prices now from both the UK and EU, with no real signs of any easing in the market. Stocks are still recovering from Avian Flu and demand remains strong.