The boss of Kraft Heinz has warned that higher food prices could be here to stay.
Miguel Patricio told the BBC that the international food giant was putting the price of its products – which include tomato sauce and baked beans – up in several countries.
Global food prices have rocketed to a 10-year high following increases in the cost of ingredients such as cereals and oils.
As a result Kraft Heinz has put prices up on over 50 per cent of its products in the US, its home market, and Mr Patricio admitted that is happening elsewhere too.
"We are raising prices, where necessary, around the world," he told the BBC.
As well as increased demand caused by the coronavirus pandemic, higher wages and energy prices have also affected manufacturers' profit margins.
Mr Patricio added: "Specifically in the UK, with the lack of truck drivers. In [the] US logistic costs also increased substantially, and there's a shortage of labour in certain areas of the economy."
However, in the longer term "there's a lot to come in technology to improve the effectiveness of farmers" that will help.
"I think it's up to us, and to the industry, and to the other companies to try to minimise these price increases," he said.
Mr Patricio added that, despite pushing up prices, the coronavirus pandemic had boosted sales of some products because "people are cooking far more than they were before".
Customers in the UK bought more Heinz Baked Beans, while customers in the US bought more Kraft Mac & Cheese.
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