Food security has been at the top of the news agenda over the past year, given continued high inflation and supply chain concerns linked to the war in Ukraine, among other factors.
With this in mind, IGD has published a new report exploring ways in which economic resilience can be re-established in Britain's food supply chain.
The Viewpoint Special Report: Rebuilding Economic Resilience in the UK Food Supply Chain is an 'impartial analysis of the challenges facing both consumers and the UK's food supply chain in the near and mid-term future', alongside 'considerations for rebuilding economic resilience', IGD said.
Building Flexibility
‘We know that high food price inflation is partly caused by global forces such as the Ukraine-Russia conflict," commented James Walton, IGD chief economist. "However, we should also consider the UK’s capacity as a producer and how we can work and trade flexibly to be resilient.
“The continued labour shortage in the food supply chain will challenge domestic productivity and a unified effort is needed from the industry to attract and develop talent. IGD is already beginning to see this happen.”
Continued Challenges
While inflation is slowing and wages in some countries continue to rise, higher base interest rates and taxes mean that households are likely to continue to face challenges for some time.
“When times are hard, and people face significant challenges, it is critical that the food supply chain works effectively, ensuring good availability and value for consumers," says Michael Freedman, head of economic and consumer insight, IGD.
You can download the report here.
