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October 2024 Market Report

October 18, 2024

MARKET NEWS

Tipping Bill:


New laws affecting how businesses handle employees’ tips came into force from 1 October.

The Employment (Allocation of Tips) Act means staff must receive 100% of the money they

earn through tips and service charge, without deductions. The changes mean the hospitality

industry is likely to come under greater scrutiny in the coming weeks.


industry is likely to come under greater scrutiny in the coming weeks. The new regulations make it easier for claims to be brought to an employment tribunal if businesses don’t play by the rules. This is because the definition of wages, as detailed in the Employment Rights Act, has been altered to include qualifying tips, gratuities and service charges.

It means from 1 October if any worker feels their tips have been held back, they may be able to claim for unlawful deduction from wages. Staff will be able to use the code of practice to make a claim and businesses could face paying fines or compensation.


Therefore, it is important hospitality operators follow the law and have a clear written policy in place on how tips are handled. Keeping an up-to-date record of how tips are managed and distributed could help you avoid a tricky legal situation.

Autumn Statement:

With less than two weeks to go until the Autumn Statement on 30 October, the industry is preparing for some big announcements. Following conversations with the government, UKHospitality has set out its top asks for the budget, including calls for business rates reform and lowering VAT.


The current business rates relief scheme for retail, hospitality and leisure is due to end in March 2025. Without a discount on their bills, which can amount to as much as £110,000 a year, hospitality operators may struggle from 1 April.

COMMODITIES REPORT

Fruit & Vegetables:


Market supply of salad produce is very tight, particularly for aubergines and

tomatoes, following the high levels of production between May and August. This is likely to cause some challenges through the rest of October. On tomatoes, while quality and shelf-life remain good, the weather means yields are lower. We are currently managing this with our suppliers, but it will remain a challenge until the Spanish produce starts to become more available at the end of the month. The wet weather is impacting availability of lettuce. Iceberg has been a particular issue. However, first deliveries from Spain are expected imminently, which should ensure there are no major availability issues.

Mushrooms:


There continue to be market-wide shortages on mushrooms. Our suppliers have taken steps to maximise availability, including sourcing from other producers. We are


expecting market-wide shortages to last for the next couple of weeks as growers continue to recover from the compost failing to get down to the required temperature, ultimately resulting in lower yields and availability.

Citrus Fruits:


As we approach the end of the South African season, we are working to minimise the impact of the poor weather conditions earlier in the year. Our suppliers are taking pro-active steps to allow them to manage supply until the arrival of the Spanish season in November.

Broccoli:


It remains challenging for farmers hoping to harvest the remaining brassica crop. The very wet weather is causing market-wide availability issues. Our suppliers are working with growers to avoid major shortages. There have been some weather- related quality issues which our suppliers are monitoring closely.


Talk to us if your veg supplier is not performing

Butchery:


Beef remains in high demand, especially on steak cuts, and we expect this to continue during the run up to Christmas.


In the UK, there is a growing demand for poultry produced under higher welfare standards, which emphasizes lower stocking densities and longer lifespans for birds.

While these standards improve animal welfare, they also result in reduced overall supply this will impact availability and prices will increase.


The pheasant season started on 1st October and runs until 1st February.

Dairy:


Processors increased farmgate milk prices over the summer. This combined with

lower production levels has driven up consumer prices. Butter and cream prices

have also followed suit, with bulk butter prices increasing by 50% in the last year. We

expect cheese prices to follow the same trend.


Challenge us to beat your current dairy prices

Seasonal Recipe Suggestion


Pumpkins and squash are bang in season currently and fantastic value. Here is a delicious recipe to add to your repertoire and make the most of autumnal vegetables:

Butternut, Red Onion & Pumpkin Seed Salad

(Adapted from Riverford Organic)


Serves 4

Ingredients:


3 red onions, sliced into 1cm-thick discs

7 tbsp olive oil

1 tbsp balsamic vinegar

1 medium butternut squash, peeled and cut into chunks

a few thyme sprigs (optional)

30g pumpkin seeds

pinch of hot smoked paprika

1 tbsp red or white wine vinegar (or use more balsamic)

1 tsp Dijon mustard, or to taste

¼ tsp crushed garlic, or to taste

1 bag of mixed salad leaves (100–150g)

salt and black pepper

Method:


Step 1


Heat the oven to 190°C/Gas 5. Keeping the onion discs whole, place them in a roasting tin and drizzle with a tablespoon or two of olive oil, the balsamic vinegar and a splash of water. Season with salt and pepper. Cover the tin with foil and roast for 30–40 minutes on a low shelf in the oven, until the onions are soft and sweet.


Step 2


Meanwhile, place the squash chunks in another roasting tin, toss with a further tablespoon or so of oil to coat and a good sprinkling of salt and roast for around 30 minutes, until tender and lightly caramelised, throwing in the sprigs of thyme halfway through the cooking time (if using). While the vegetables are roasting, put the pumpkin seeds in a small pan with a teaspoon of olive oil, a pinch of salt and a pinch of paprika.


Step 3


Toast over a medium heat, stirring frequently, until lightly browned, then transfer to a plate to stop them toasting further. Make a simple vinaigrette: whisk together the vinegar, around 3 tablespoons of olive oil, the mustard and garlic to taste. Season with salt and pepper. Put the salad leaves in a large salad bowl, pour over the dressing and toss to combine. Scatter over the butternut, onions and seeds.

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