The boss of the food giant says rising prices are partly due to pandemic disruption.
Mr Patricio says this broad range of factors is contributing to the rising cost of food.
In the longer term "there's a lot to come in technology to improve the effectiveness of farmers" that will help. But big food producers like Kraft Heinz, Nestle and PepsiCo "will most likely have to pass that cost on to consumers" according to Kona Haque, head of research at the agricultural commodities firm ED&F Man.
But she said food producers would all be affected and would therefore all be raising prices in similar ways: "because it's so widespread that everyone will do it, meaning they probably won't lose customers".it was also facing rising costs on everything from transport to raw ingredients, and said that further prices rises were likely at the start of next year.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Food banks struggle for donations as demand risesOne food bank in Worcester says people are coming to them 'desperate for help'.
Read more »
Watch: Tory MP says people using term ‘white privilege’ should be referred to PreventPeople who use the “extremist” term ‘white privilege’ should be reported to the government’s counter-terrorism programme Prevent, a Tory MP has said.In a recording obtained by The Independent, Jonathan Gullis said it’s “racist” to suggest that every white person is “riddled” with white privilege. “Any teacher who’s perpetuated [it] in the classroom ultimately should face a disciplinary hearing at the very least,” said the politician, who represents the Stoke-on-Trent North constituency. He went on to add that “woke teachers” who want to push their political ideology in the classroom should run against him in the next general election.
Read more »
Tory MP says people using term ‘white privilege’ should be reported to Home OfficeExclusive: In leaked recording Jonathan Gullis also called for teachers who criticise Tories to be sacked
Read more »
Questor: four tips that have gone south – do we admit failure or hang on?Questor share tip: Superdry, Associated British Foods, Trainline and Vivendi have all suffered share price falls📉
Read more »
Johnson jets off on holiday as Brits face soaring bills, cuts & shortages crisisBoris Johnson jetted to the Costa del Sol as millions face soaring UK energy bills, a cruel benefit cut, empty supermarket shelves and higher petrol prices
Read more »
Opinion: Rosie Jones is right to call out ableist abuse – what is wrong with people?Disabled people can’t say what they think about society’s inaccessibility – and it’s suffocating
Read more »