Karen Betts will say in front of an audience at the National Gallery, “Russia’s invasion of Ukraine has been a genuine geopolitical, energy and commodity shock” that “will have serious ramifications for us all, across Europe and globally.”
President Putin’s assault on Ukraine will have serious ramifications in the UK including “rising costs, rising inflation and unpredictable supply chains” that will mean food price rises are now “inevitable”, she will add.
The effects of the war are already being felt in the supply chain with energy prices soaring while shortages of sunflower oil and wheat are causing huge spikes in global market prices. These impacts are hitting an industry only just starting to recover from the strains of the Covid-19 pandemic.
The chief executive will use her speech to call on the UK Government to act now to ease the supply chain pressures on food and drink companies and support the millions of vulnerable households already suffering from the mounting cost-of-living crisis.
She will also call for:
- Ministers to react quickly and with greater flexibility for when ingredients become unavailable
- A National Food Security Council to enable industry and Whitehall to react in real time to supply chain impacts
- Urgently review all upcoming regulation to avoid unnecessary costs being placed on businesses and ultimately shoppers
Betts will tell members that it is “critical for our industry’s long-term growth and success, and to the economy more broadly” that they continue to invest in productivity and growth.
She will set out the case for more money to be spent on skills, new technology and more sustainable products, while the manufacturers must not lose sight of their net zero ambition and endeavour to seize new trade opportunities.