'Vicious circle of rising costs is fuelling crisis for traders'
Summary
Rising costs of food ingredients and fertilizers are causing serious problems for traders, farmers, and shoppers. Businesses like cheesemakers are paying more than double for key supplies, leading to higher prices and making it harder to sell products. Farmers warn the government needs to do more help, or they may reduce crop production.Key Facts
- Some food ingredient prices, like dried apricots, have nearly tripled in a year.
- Fertilizer costs are rising and threatening farmers' ability to grow crops.
- A cheesemaker from Northampton says higher costs force price increases, which hurts sales.
- Farmers have protested to demand more government support for agriculture.
- The government says it is working with farmers and groups to support the farming sector.
- The Bank of England expects food prices could rise by 7% before the end of the year.
- Consumers report noticing big price hikes on everyday items like salt and meat.
- Some shoppers are changing buying habits, choosing cheaper foods like chicken instead of red meat.
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