Pelican Procurement publishes Q1 Market Report
07 Feb 2024
Pelican’s Market Report offers valuable insights into the current market conditions, price trends, product availability and effective strategies to help caterers navigate price changes, plan your menus and source alternative products.
Amid the fast-changing global landscape, procurement business analyst Alex Gess explores the current market conditions that are affecting the supply and availability of food and non-food products.
He commented: “Understanding the factors influencing product supply and availability is vital for hospitality and catering operators to make informed purchasing decisions, adjust menus and keep your gross profit margin healthy.”
Findings from the report include:
- Cost of Living: Workers can look forward to a minimum wage increase taking effect in April, along with ongoing reductions in food prices and energy costs
- Climate change effect: The impacts of climate change have become increasingly evident, with the UK witnessing extreme weather patterns domestically and globally
- Energy pricing: In 2023, the country experienced the lowest consumption of fossil fuels since 1957, with domestic renewable energy accounting for 42% of power
- Global supply chain impact for UK: Shipping route challenges in the Red Sea are linked to the Israel-Gaza conflict, causing rerouting and delays
Request a free copy of Pelican’s Market Report here.