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Monday 18.11.2019 | Name days: Doloresa, Aleksandrs

Raw food material traders consider price rise options

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After observing market participants’ reaction to the rumours and news that, allegedly, prices of various food products are likely to increase due to natural disasters and other global events; raw food material traders assess the possibility to raise prices, believes Artis Rozitis (Artis Rozītis), the entrepreneur from Kuldiga and the owner of inns, pizzerias, and cafés under the brand name Stender.

Prices have went up by few santims for some items; coffee price has grown. I have not gone into details, but it seems to me raw material producers are slightly bluffing. They are weighing options, Rozitis, who runs five catering facilities in the region of Kurzeme through his company SIA Arktika G, pointed out to the agency LETA.

The entrepreneur believes if the rumours and some analysts’ forecasts on the price climb of food raw materials (grain, including the meat of bovine animals, swines and domestic birds fed with grain and its derivatives) after the heat and fires in Russia, flooding in Pakistan and other natural disasters come true, the fragile catering price balance, which was reached due to the economic crisis, would be destroyed.

Naturally, these issues raise concerns. Currently, we cannot increase the final offer price. I consider the offer to the consumers from our side is optimal. If the prices of raw materials rise, we have to ascertain whether we can maintain it. Presently, such threats are only discussed by mass media, told Rozitis.

As regards his business, putting aside the rumours about food prices, Rozitis pointed he has managed to stabilize costs and prices. Only in late 2008 he had to close down the restaurant Stender’s Osta at the trade centre Galerija Centrs premises. When the crisis stroke, this restaurant operated with losses due to the exaggerated costs in the fat years.

The rest of the business is restructured in line with the present situation. All the other structures are operating; we have not shut down anything else. It was even good that the crisis pressurized us to bring order into these things. If costs can be restructured, the business will operate, said Rozitis.


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