Demand contracts as prices rise with the mercury

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Battling rising food prices seems to be the order of the day for governments globally. Even though Asia is said to be somewhat shielded, the fact remains that prices are still rising in the region, while economies continue to stagger for a post Covid-19 balance.

Inflationary pressure has placed a pause on discretionary spending and the squeeze in demand is now beginning to show in essential items such as eggs and poultry meat, the cheapest of animal protein. This will also impact the Horeca sector, that is trying to raise its head from pandemic related closures.