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• RTE The Business: Food firms being hit with price rises of up to 30%

  November 18, 2021 Profiles and Interview
  

  Source: https://www.rte.ie/news/business/2021/1117/1261573-food-firms-being-hit-with-price-rises-of-up-to-30/

  By Brian FinnBusiness Journalist

  Cost increases being experienced by firms have yet to be passed onto consumers but they will likely make their way through in time

  Small and medium sized food companies in Ireland are being hit with input cost rises of almost 30%, according to research from the representative group Love Irish Food.

  Companies said costs were rising across the board, but the most significant hikes were being experienced in the areas of transportation, followed by raw materials and energy prices.

  The increases in transport prices related mainly to the cost of exporting goods, but the cost of transporting within Ireland also increased.

  Companies reported that their insurance costs have been rising, but to a lesser extent that the other categories.

  Three quarters of companies surveyed by Love Irish Food attributed the cost increases to supply chain issues arising from the pandemic.

  Other key contributing factors included Brexit, and increased worldwide demand.

  Those cost increases are likely to make their way through to the prices that consumers pay for their food.

  However, although consumer price inflation is running at in excess of 5% in Ireland, according to the latest CSO figures, food prices increased at a more muted rate of 0.6% year-on-year in October.

  The bulk of the inflation in the wider economy is accounted for by rising energy and fuel prices.

  Labour issues

  Food companies are also concerned about the impact of labour shortages across the wider economy.

  Four out of five SMEs surveyed by Love Irish Food said they anticipated challenges in recruiting qualified and trained staff next year.

  A similar proportion expect that retaining current staff will be a challenge.

  Many companies report that they are having to prioritise core ranges of goods in an effort to offset labour problems.

  “The twin challenges of rising input costs and significant labour shortages have the potential to cause serious disruption on the food and drink industry in 2022,” Kieran Rumley, Executive Director of Love Irish Food said.

  “The global pandemic and Brexit have made the issues facing the sector acute, with many now having to consider range rationalisation to offset labour challenges and decrease costs,” he added.

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• IRISH FARMERS JOURNAL: Love Irish Food announces their Double Up Awards

  July 10, 2020 Profiles and Interview
  
  Love Irish Food announces their Double Up Awards

  Janine Kennedy

  Winners will receive marketing support and a total of €40,000 worth of radio advertising space in 2021’s second quarter, writes Janine Kennedy.
  

  Love Irish Food

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  It’s often said that, during economic downturns, advertising and marketing are the first budgets to be cut in small and medium sized businesses. With the announcement of Love Irish Food’s 2020 Double Up Awards, this problem is being addressed head-on with a top prize of a “Double Up” totalling €200,000.00 in radio air time. In partnership with Core and Media Central, Love Irish Food will give five Irish food companies the chance to double their spend on radio advertising in the first and second quarters of 2021. Kieran Rumley, executive director of Love Irish Food, says this is a bit of a departure from their usual awards.

  Brand Development Awards

  “For the last number of years we’ve run the Brand Development Awards for smaller producers,” he says. “This one is for those who are a bit larger and may have advertised before. The aim is to give them a stronger budget they can plan for now.”

  In light of the business interruptions that occurred throughout the COVID-19 lockdown and with the uncertainty of Brexit on the horizon, Kieran says that amplifying the voices of Irish brands has become increasingly important.

  “At the moment, people seem focused on (what will happen) this year, but I really think next year we’re going to have the ultimate fallout,” he says. “Hopefully, by then, COVID-19 will have been well-handled, but the cliff edge is Brexit. We don’t know yet what will happen, but the signs are not great, at the moment, for a smooth transition.”

  “There is a lot of good will at the moment (among consumers) with shopping local, supporting local and staying local,” he continues. “We want to move that intention into a bit of action, to encourage support of local brands, of foods produced here in Ireland and especially those that use local ingredients where possible. We want to give these brands a stronger voice to consumers; to give them a better edge against imported competitors.”

  While Love Irish Food awards are usually geared toward brands that are members, this year they have opened things up to both members and non-members; giving all Irish food brands an equal opportunity to win. Along with winning a €40,000 radio advertising budget for the second quarter of 2021 (matching a spend of €40,000 on advertising in the first quarter), Love Irish Food, Core & Media Central will work with the winners to plan their advertising campaign in accordance with their brand objectives. Winners will have their campaigns shared across Media Central radio stations, which include Newstalk and Today FM. Media Central’s eight stations achieve a weekly audience of over two million.

  It is hugely important that we support this Irish industry and other locally owned businesses in every way that we can

  Gavin Deans, Media Central’s managing director, says it’s a crucial time to support Irish food producers.

  “It is hugely important that we support this Irish industry and other locally owned businesses in every way that we can,” he says. “We hope this initiative can do just that by allowing the winners to reach a much wider audience, over a longer period, across our network of stations than might otherwise have been possible and provide a base to build on in 2021.”

  To register, brands must submit their company details before 5:30pm Friday, 24 July, 2020. Then, registered brands can submit their completed entry form online before 5:30pm Friday, 28 August, 2020.

  The judging panel includes Kieran Rumley (Love Irish Food), Eddie O’ Mahony (Core) and Gavin Deans (Media Central). Judging will commence in September, with the five winners to be notified on Monday, 28 September.

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