Fish Fingers: Birds Eye and Sterling Costs

fish fingers: Birds Eye, which is owned by New-York-listed Nomad Foods, is seeking price rises of as much as 12% as it said many of its raw materials were priced in dollars and so its sterling costs had risen, according to The Guardian. Birds Eye is said to be threatening to shrink pack sizes on some products to help offset cost increases, cutting the number of fish fingers in a packet, for example, from 12 to 10 or from 20 to 18. The brands have joined Typhoo and Unilever, the owner of Marmite, and a number of smaller suppliers in an industry-wide battle over price increases caused by the 14.5% drop in the value of the pound against the euro and 18% against the dollar since the UK voted to leave the European Union. Wayne Hudson, Birds Eye UK and Ireland managing director, said: Increasing costs is not a decision we take lightly, and the last time it was necessary to raise costs was in 2012. He said Birds Eye costs had risen by an average of 5%. Some product costs increased by more than that, requiring the company to push for a double figure price increase in some cases. As such, we have been in open and collaborative conversations with the retailers for some time now and are working closely with them to minimise any impact on our customers. (news.financializer.com). As reported in the news.