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Eversheds: Rising food prices increase pressure on global supply chain

04 October 2012

Following today's news the UN FAO Food Price Index increased by three points in September after two months of stability, partner and head of the food and drink sector group at global law firm Eversheds, Parmjit Singh commented

"News that global food prices have increased, albeit slightly, in September will put further pressure on already squeezed international food supply chains. Manufacturers and producers will naturally want to pass on increased costs to their clients but they will meet with stiff resistance from retailers who are reluctant to increase checkout prices for increasingly value-conscious consumers.

"Looking over the longer term, with commodity prices likely to trend upwards and an increasingly volatile global climate, concerns over food security and scarcity - such as those witnessed in Russia last year and the recent drought in the USA - are likely to come increasingly to the fore.

"We also see an increasing trend towards localised sourcing of food. While this will go some way to dampening supply concerns, it could lead to further price rises as retailers find they enjoy reduced sourcing options for produce. All in all, the net result will be further pressure on supply chains and, ultimately, consumers paying more for the food on their plates."


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