As a result of the UK’s summer warmth, chip prices are expected to skyrocket in autumn.
The crop, which supplies potatoes for winter storage, has been destroyed by recent high temperatures.
As a result of the domino effect, chip prices might increase by an additional 20% from their present levels, for an overall increase of up to 60% since last year.
This would boost the price of a £2 bag of fries from a fast food restaurant to £3.20, and the price of a medium plate of fries from McDonald’s from £1.39 to £2.22.
Meanwhile, the price of a 1.6kg bag of McCain oven chips may increase from £4 to £6.40.
Steve Clarke, the managing director of Q Catering, stated, “There are indicators of astronomical spikes in chip pricing, which will coincide with availability and supply concerns. We’re likely to see a 20% price hike in addition to the existing level.
This will bring the total rise since last year to between 50 and 60 percent.
This comes despite concerns that half of the nation’s fish and chip restaurants may collapse due to rising expenses.
As a result of rising energy costs and the cost of frying oil, chip producers are already attempting to increase wholesale pricing.
And fish and chip restaurants are also suffering from the soaring price of white fish, with some stores reporting a 50 percent increase in cod costs following the invasion of Ukraine.
However, this may be good news for children, as it has been shown that children are rejecting traditional chip shops.
While a trip for fish and chips remains the most popular activity for seniors, just one in 14 individuals under the age of 25 enjoy it.
They are choosing for Chinese takeout and pizza instead.
More than 10,000 chippies operate in the United Kingdom, with annual sales of £1,2 billion.
In March, it was asserted that rising costs had triggered the “biggest crisis” in the lengthy history of the industry.
A combination of inflationary forces will prevent most chip businesses from serving “cheap” meals while still making a profit.
The price of oil used in deep fat fryers is increasing since Ukraine and Russia produce over fifty percent of the world’s sunflower seeds.
The availability of sunflower oil is expected to be severely constrained this year, and thus, the price of other cooking oils is also growing significantly.
Between 30 and 40 percent of the fish sold in chip shops originates from Russia, according to Andrew Crook, head of the National Federation of Fish Friers. He stated, “If we lose this, it will be a major problem since we have no Plan B.”
The trade association has been lobbying the Treasury for assistance. Next month, the VAT is scheduled to revert to 20% from 12.5%; if this occurs, it will add to pricing pressure.
Mr. Crook stated that he had raised the price of fish and chips in his own shop in Chorley, Lancashire, by 50p to £8.50, but a VAT hike would make his firm “barely profitable.” There are around 10,000 chip shops in the United Kingdom, and Mr. Crook believes that “if the worst comes, half of them may close.”
He stated that he had expected that 3,000 businesses will collapse during the next five years, but “they are likely to depart sooner now.” He continued, “It’s traditionally been considered a cheap lunch, and some establishments rely on large servings to attract customers, but they can’t do that anymore since the price is exorbitant.”
Mr. Crook stated that this was the biggest crisis in the history of the industry, which, in addition to the epidemic, had “wear people down.”