Food prices are rising rapidly. The current rate is fastest increase in more than 30 years. According to Stats NZ, food prices increased 1.5% from the previous month to be 13% higher than they were a year ago.
Nearly 6% of the monthly increase was driven by fruit and vegetable prices. a 12 percent increase in grocery prices, particularly for eggs, cheese, and potato chips. Prices for fruits and vegetables rose by 23% over the course of the year.
Months of unfavorable weather had impacted most crops’ cultivation and produce. As a result, growers received little income and required funds to ensure a stable supply in the future. Looking further along the supply chain, you will find that on-farm costs, from fertilizer and fuel to packaging, feeding costs, and harvesting, have increased by almost 15% in the last year.
We are aware that Cyclone Gabrielle’s effects are largely responsible for rising food prices. it has caused damage to our important food-producing regions like Tai Tokerau, Northland, Gisborne, the Coromandel, and the Hawke’s Bay.
The Commerce Commission’s analysis revealed that while supermarkets were under pressure to ensure they were not making excessive profits during these times.
According to Vegetables New Zealand, in order to keep growers in business, the public must contribute. The group urges people to buy locally grown, fresh food.