Government warns of Serious Challenges in the Food Industry
The UK food industry is on the verge of serious deterioration, according to a recent report by the House of Commons Environment, Food and Rural Affairs Committee.
The supply chain is threatened by disruptions in production, unharvested crops and the pig-cull crisis as examples of problems that continue to plague the sector.
The food industry is facing significant labour challenges.
This is partly due to the Brexit-induced outflow of European workers and a new immigration framework, but also caused by Covid-19 crisis, when operators were put at risk because of the sooner than expected recovery of the sector.
The current conflict in Ukraine is also taking a toll on the food industry, with major supply disruptions for important commodities such as wheat and oil due to Russia’s aggression.
The food industry is undergoing a substantial transformation, whereas the world appears to be moving in the opposite direction.
There are huge possibilities for both businesses and investors, fueled by new technologies and consumer trends such as cultured meat, flexitarianism, and indoor farming, as well as the growing awareness and application of environmental, social, and governance (ESG) concepts.
There is also the prospect that regulatory divergence might provide some unique possibilities in the domestic market, given new post-Brexit legislation on genetic technology and a national food policy.
Because the factors and technologies that underlie the food sector’s future will change over time, it will appear very different in the decades ahead.Investors, as well as businesses, must be prepared.
News Credit: Food Unchained – Investors’ Chronicles
Micro Weighing Solutions are the UKs leading manufacturers of industrial scales for the food industry.
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