Head of the American Food Concern Kraft Heinz Miguel Patricio called on buyers around the world to compete with high prices for products. He told about this in an interview with “BBC” .
He explained that there are several reasons for the rising prices. First, due to the coronavirus pandemic, the supply of necessary products were disturbed. Secondly, against the background of the restoration of the global economy, production does not keep up with demand, and the increase in energy increased costs of manufacturers.
Patricio is confident that food prices will grow further, because the population of the planet is growing, and the land area where food can be grown does not increase. “I think it depends on us, from the industry and other companies, we should try to reduce the rise in prices to a minimum,” the head of Kraft Heinz summed up. At the same time, the Corporation itself has already raised prices more than half of their products in the United States and will be forced to do it in other markets, admitted Patricio.
According to the Food and Agriculture Organization of the United Nations (FAO), world food prices in August increased by 33 percent compared with last year and broke the record for 60 years. The main reason was the increase in the cost of vegetable oil, grain crops and meat. Prices also contributed to the extreme weather conditions caused by global warming, many countries have survived an unprecedented drought.