Fish-and-chips shops in the United Kingdom are under a great pressure as the key ingredients – cods and sunflower oil keep soaring because of the war in Ukraine.
Nearly third of the fish-and-chips restaurants will be expected to be closed in the next few months. The prices of the main ingredients started rising at the end of 2021. And the costs go even further upward when Russia invaded Ukraine. It’s because nearly 40% of the industry’s cod and haddock come from Russian waters and 50% of its sunflower oil imported from Ukraine.
Business owners are struggling with higher costs as supply chain have been exacerbated by the war in Ukraine. The shops owners cannot make enough margins to survive. It’s too difficult for the shops to raise prices as customers expect the fish and chips to be in a reasonable price.
Business owners also fear that the UK government will impose harsh import tariffs on Russian products. It will push Business to stock up on alternatives and make business in UK become more difficult.