According To A Food Executive, Prices Could Climb By Up To 15%

As a result of the conflict in Ukraine, a top food sector executive has warned that prices will rise.

Food prices could climb by up to 15% this year, according to Ronald Kers, CEO of food company 2 Sisters.

He also mentioned that the company's pricing for chicken from the farm has increased.

Russia and Ukraine are two of the world's largest wheat producers, and the conflict is expected to have an impact on shipments.

Furthermore, the price of gas has risen, which is used to heat greenhouses and produce fertilizer, both of which are critical to food production.

According to some experts, war in the region is expected to worsen price increases that have already been occurring during what has been dubbed as a cost-of-living crisis.

In the United Kingdom, 2 Sisters employs over 14,000 people and specializes in chicken and chilled meals.

Its CEO claimed that the company had already been forced to pay 50 percent extra for poultry from farms.

"Fundamentally, it implies as a country we may need to start importing less and producing more ourselves," he said if the battle continues for months.

"To find a solution, we need to collaborate with all supply chain partners... it's a really complex issue."

It comes as the National Farmers Union (NFU) warned that food production might be harmed, potentially hurting food availability for years.

It requested immediate assistance for farmers in a letter to the government last week.

"The government must act soon, sending a clear message that food security is a national priority," the NFU stated.

Last week, NFU president Minette Batters noted that growing costs of producing fruit, vegetables, and meat could compel farmers to produce less at a time when the country needs more.

"I think the entire globe has to recognize that this is not something we've ever seen before; we're going to witness levels of wheat price inflation that have never been seen before," she says.