“Inflation is a fact of life, especially in the current market,” said Lynx Purchasing managing director John Pinder. “But that doesn’t mean caterers should just watch helplessly as their costs rise. It’s vital that they work closely with their suppliers to get the best possible value, and key to that is understanding exactly what they’re buying.
“If a chef doesn’t know how many portions he can expect to be able to serve from a kilo of cod, or whether the quoted weight of a leg of lamb includes the bone or not, then the business has very little chance of setting its menu prices at a level which will maintain margins and keep the business trading profitably.”
The newly-published Summer 2013 edition of the Lynx Purchasing Market Forecast shows the impact on food prices of volatile weather and poor harvests both in the UK and around the world.
The latest edition shows that higher grain prices are impacting the price of meat and poultry through rising food costs. Increased demand from supermarkets for UK beef in the wake of the horsemeat scandal has pushed prices up further for caterers, while lamb has been affected by the losses to farmers caused by the freezing weather and late spring.
The price of potatoes has tripled in some cases against last year, with the availability of stored crops set to remain scarce until this year’s crops are harvested. The price of fresh fruit and veg generally continues to be hit by the poor spring weather, leading to reduced production.
While continued price increases are also forecast for dairy and edible oils, there are also bright spots for caterers willing to adapt their menus to focus on produce that offers the best value and quality.
Lynx is encouraging caterers to expand fish and seafood dishes on menus this summer. Pinder added: “Some of the best fish caught in British waters is exported because there isn’t enough domestic demand. Summer months provide the best opportunity for restaurants, pubs and cafés to extend the range of high quality, British-caught fish offered on the menu.”
Fish species expected to offer good value this summer include hake, whiting, gurnard, mackerel and plaice, as well as line-caught south coast pollock and south coast sea bass.
The latest Market Forecast also include guidance to help caterers buy better. “As well as not understanding the benefits of ordering in season, when produce is at its best in terms of quality and well as being best value for money, we find that many chefs don’t have a grasp of what yield to expect when they order meat and fish by weight,” said Pinder.
For example, up to 20% of the weight of a whole striploin may be lost when it is trimmed into steaks, rising to up to 80% of the weight of some fish species when filleted.
“For many caterers, it makes more sense to order meat and fish cut and filleted to size by the supplier, with the increased cost balanced by the fact that they can sell 100% of what they are buying.”