People may have to get used to higher prices for food, Kraft Heinz boss says

·2 min read
A view of empty shelves at a Tesco supermarket in Manchester, England, Sunday, Sept 12, 2021. Retailers, manufacturers and food suppliers have also reported disruptions due to a shortage of truck drivers linked to the pandemic and Britain’s departure from the European Union, which has made it harder for many Europeans to work in the U.K. (AP Photo/Jon Super)
Consumers may have to get use to price rises across the board, the boss of Kraft Heinz said. (Getty)

Consumers will have to get used to higher food prices, the boss of international food giant Kraft Heinz has warned as he said the company is putting its prices up in several countries.

Miguel Patricio told the BBC that the company, which makes products including baked beans and tomato sauce, is putting its prices up in several countries "where necessary".

He said a range of factors were contributing to the rising cost of food, calling for companies to absorb some of the rises in costs but saying that consumers will have to get used to paying more. 

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"We are raising prices, where necessary, around the world," he told the BBC.

Contributing factors include energy prices, less available raw materials, labour shortages and logistics costs. 

According to the BBC, Patricio said the fact the world's population is rising, yet the available land on which to grow food is not, would mean higher prices.

"I think it's up to us, and to the industry, and to the other companies to try to minimise these price increases," he said, but added that given since many companies would have to put similar price hikes in place, they may not lose customers.

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Patricio isn't the first person to warn of price rises for food.

Iceland recently warned that rises are "inevitable" and the British Retail Consortium (BRC) also warned that supermarket prices are likely to rise following months of increased commodity and shipping costs, while Morrisons boss David Potts said the company would do everything to "mitigate price points".

Last month Richard Walker, managing director of Iceland, said the HGV driver shortage could lead to price inflation.

He told Sky News: "I think inevitably it will lead to some form of inflation because this driver issue is affecting the whole supply chain.

"It's not just affecting our part of it, which is from the depots to the shops.

"It's also affecting the suppliers into the depots or the produce from the fields into the supplier."

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