Western consumers do not expect to pay high prices for their food today. But Yves Servotte of the Beneo Group believes food should be valued like any other hi-tech product, and prices should reflect higher production costs and quality controls.
Cut price deals on the supermarket shelves result in pressure throughout the supply chain, with margins of ingredients suppliers being squeezed. Servotte believes the conversation on food needs to be changed: It should not be considered a low-value commodity that, by definition, should be very cheap; rather, food prices should reflect the investment in technology for texture, taste and convenience.
Servotte believes the food industry should have a conversation about the real value of food more often.