Here are your FOX Business Flash top headlines for March 14.
Fish and chips might become a luxury item.
Over the past two years, restaurants across the world have struggled due to the pandemic. Most recently, these problems resulted in supply chain issues and staffing shortages.
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Fish and Chips is a popular dish across the United Kingdom, but the costs of its ingredients have been rising and are expected to get worse due to the Russian-Ukraine war. (iStock)
Now, the Russian-Ukraine war is likely to disrupt a fishing imports, which has certain restaurants across the United Kingdom very worried.
Fish and Chip shops, also known as chippies, are popular across multiple countries in the U.K. The popular dish is fairly simple, including battered and fried fish, French fries and some vegetables. It’s easy to make and usually an inexpensive dish.
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About 30% of the region’s white fish is imported from Russia. (iStock)
About a third of the region’s whitefish is imported from Russia. Due to recent sanctions, however, many suppliers are looking for alternate sources. Even restaurants that bought their fish from other sources, such as Icelandic fishing vessels, are concerned, Leeds Live reports.
One restaurant owner spoke with the news outlet and explained that his sources will have more demand for their product now, which will drive up prices. He worried that prices could increase by 200%.
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The rise in costs could put many of England’s fish and chip shops out of business. (iStock)
“We’ve seen huge increases in fish prices over the last six months anyway,” Andy Crombleholme, owner of a fish and chip shop named Kirby’s, told the news outlet. “We’re already a lot higher than where we were pre-pandemic. It’s astronomical.”
Other costs have seen an increase as well, such as packaging and cooking supplies.
The National Federation of Fish Friers worried that more than a third of the fish and chip shops in Britain could be forced out of business.
