Chip prices are set to soar in autumn after the UK’s summer heatwave scorched potato crops.
The crop, which provides tubers to be stored for the winter, has been decimated by the high temperatures.
The knock on effect could mean that chip prices rise by 60 per cent in a year – meaning that a medium portion of fries from McDonald’s could jump from £1.39 to £2.22.
And a 1.6kg bag of McCain oven chips would skyrocket from £4 to £6.40.
The crop, which provides tubers to be stored for the winter, has been decimated by the high temperatures. The knock on effect could mean that chip prices rise by 60 per cent in a year – meaning that a medium portion of fries from McDonald’s could jump from £1.39 to £2.22
Chip prices are set to soar amid warnings that half of fish and chip shops across the UK could close under soaring costs
This comes amid warnings that half of fish and chip shops across the UK could close under soaring costs.
Managing Director of Q Catering Steve Clarke said: ‘We’re getting indications of huge increases in chip prices which will go hand in hand with availability and supply issues.
And a 1.6kg bag of McCain oven chips would skyrocket from £4 to £6.40
‘From current prices we’re probably looking at a further 20 per cent increase.
‘That will take the overall increase to around 50 per cent to 60 per cent since last year.’
Chip manufacturers are already trying to raise prices for wholesalers as they battle the effects of soaring energy bills and cooking oil.
And fish and chip shops are also suffering under the rising cost of white fish, with some shops reporting cod prices rising by 50 per cent after the invasion of Ukraine.
But this may come as a great time for kids, as it was revealed youngsters are snubbing traditional chippies.
While a trip for fish and chips still tops the charts for pensioners, it is liked by just one in 14 under 25s.
They are opting instead for Chinese takeaways and pizza.
War and sanctions are hurting the industry as between 30 and 40 per cent of fish sold in chip shops comes from Russia and the country also produces a large amount of sunflower oil which is used in deep fat fryers
More than 10,000 chippies operate across the UK with £1.2 billion spent on the dish each year.
Surging prices have caused the ‘worst crisis’ in the trade’s long history, it was claimed in March.
A combination of inflationary pressures mean most chip shops will be unable to serve a ‘cheap’ meal and still make a profit.
The price of oil used in deep fat fryers is surging because Ukraine and Russia account for more than 50 per cent of the world’s production of sunflower seeds.
With sunflower oil supply set to be squeezed dramatically this year, the price of alternative forms of cooking oil is also rising rapidly.
Rising costs threaten future of Britain’s fish and chip shops with up to half expected to go out of business as they face record price rises for oil and energy (file photo)
Andrew Crook, president of the National Federation of Fish Friers, said between 30 and 40 per cent of fish sold in chip shops comes from Russia. He said: ‘If we lose that there will be a big problem because there is no Plan B.’
The trade organisation has been trying to lobby the Treasury for support. Next month VAT is due to return to 20 per cent from 12.5 per cent and that will add to the pressure on prices if it goes ahead.
Mr Crook said he had increased the price of fish and chips by 50p to £8.50 at his own shop in Chorley, Lancashire, but a VAT increase would make his business ‘borderline profitable’. There are around 10,000 chip shops in the UK and Mr Crook believes ‘if the worst happens half of them may go’.
He said he already feared 3,000 would close over the next five years but ‘they are likely to go sooner now’. He added: ‘It’s always been seen as a cheap meal and some shops rely on massive portions to win the trade and they can’t do that any more because the cost of it is prohibitive.’
Mr Crook said it was the worst crisis in the trade’s history and on top of the pandemic it has ‘worn people down’.