Since talking with CBS Tampa for a story on rising grocery prices, I thought it would be good to share with clients and colleagues as well. The bottom line is that grocery prices are definitely spiking due to supply chain disruptions due to coronavirus, not due to shortages of food. There are significant supply chain disruptions and volatility in demand and supply. For example, grocery is spiking in many categories such as eggs, pantry staples, and meat while restaurants, hospitality and schools have dropped like a rock which resulted in farmers dumping millions of gallons of milk, eggs etc. Getting the right products to the right place at the right time through available channels has been challenging due to labor shortages mainly at the farm level. The supply chain is starting to stabilize but disruption will exist while coronavirus surges and until additional channels are set up and packaging accepted in grocery so that stock can be redeployed.
Will your supply chain be impacted? Or will rising prices impact your business? Stay up-to-speed on the latest trends to stay on top of your supply chain and how to proactively navigate COVID.