The year ahead is set to be a turbulent one.
Geopolitical infractions, climate change, and the pandemic have all helped shape the first quarter, and decisions – no matter their size – made on one side of the world have had a noticeable impact on the other.
Few sectors feel that impact more strongly than agriculture and food manufacturing. Wetter weather can lower crop yields, war can disrupt supply chains, and illness can reduce the workforce dramatically.
These knock-on effects push the price of ingredients, logistics, processing and packaging to unprecedented levels. Admittedly, that is a gloomy outlook.
But there is plenty of hope.
With every challenging trend comes an opportunity to sidestep the difficulties and future-proof your business. By doing so, you can contribute towards a sustainable, socially responsible future. One where the consumer has peace of mind that, from crop to table, their food has had a positive impact on the planet.
Let’s begin.
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"At every turn of our heads, prices are significantly higher than five years ago."
Record Price Increases
At every turn of our heads, prices are significantly higher than they were five years ago.
There is a global shortage in fertiliser, caused by the very high cost of natural gas.
A fertiliser shortage results in reduced crop yields, which means ingredients cost more. What’s more, transportation prices have also increased.
Businesses have two options. They can either pass on the costs to the consumers. Or they can absorb these cost increases, making a reduced profit.
Here at ERA, we believe there is a third option.
Supply Chain Solutions
The pandemic has revealed vulnerabilities in our global supply chains.
When one country goes into lockdown – and its operations are disrupted or halted – that has knock-on implications for other countries further along the chain.
But the problem is not limited to the pandemic.
So, what can businesses do to ensure that their crop can be harvested, processed, packed and transported to keep shelves stocked and consumers happy?
Sustainable Procurement
Can the agrifood sector feed all 7.7 billion people whilst acting in an environmentally friendly way that can mitigate the worst impacts of the current climate disaster?
We say yes.
There are so many ways that companies can reduce their environmental impact.