Perspective on rising food prices on the Foodservices sector By Mr. D.R.E Reddy, CRCL LLP
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Below is Perspective on rising food prices on the Foodservices sector By Mr. D.R.E Reddy, CEO and Managing Partner, CRCL LLP
The suffering of Foodservices sector due to rising food prices
“As we start to pan out from the pandemic, the foodservices sector will now have to deal with high food prices given current situation due to ongoing protests by farmers. Despite of the eased out CPI numbers, the pressure due to agri-commodities will continue to rise in the long run. For the food and hospitality sector, players cannot recalibrate the food menu prices due to stiff competition. However, we expect some relief for the foodservices sector, the first of which is to give it an industry status and ease out the taxation norms.”
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