Regency Purchasing Group have secured price reductions on food for customers thanks to ongoing negotiations. Pricing reviews have been sent to customers with the majority of food products either held in price or being reduced.
The Harvest has been reasonably good this year with only certain produce having a poor year, including potatoes, peas and sweetcorn that have all increased in cost. Fuel reductions and an advantageous Euro exchange rate has taken pressure off distribution costs for suppliers and manufacturers and Regency have negotiated these savings into reducing the impact of some increases and reducing 367 prices in foodservice alone. Some of the items being reduced are core lines for members including tinned tomatoes, butter, prawns and rice.
Pricing is now fixed until March 2016 so gross profit can remain stable, which will give businesses peace of mind throughout the winter.
Managing Director Alex Demetriou said: “When food and distributions costs are increasing suppliers are very quick to let everyone know that price increases are imminent. At times when they are decreasing they seem to go very quiet. It is our job to challenge them and ensure that our members receive a balanced view of moving food markets. The level of reductions we have achieved for our customers has been very well received”
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