Natco updates prices every week of every year to reflect changing costs of raw materials. Usually some products go up and others come down. 2/
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We have not changed prices in response to the coronavirus crisis. However, in the last two weeks pound sterling has fallen dramatically in the currency markets from $1.31 to $1.15. 3/
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This fall of 12% in £ sterling means that imported ingredients and raw materials, which are purchased in US dollars, are 12% more expensive than 2 weeks ago. 4/
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As we replace our stocks with new imported material we update our prices to reflect the new costs, while ensuring that we remain competitive vs other suppliers. 5/
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We are aware that some retailers and wholesalers have increased prices much more than 12% in response to increased demand and temporary shortages of some products. 6/
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Natco & other suppliers are ramping up imports & production to cope with the increased demand for nutritious staples such as lentils and beans. We believe that this will quickly reduce the strains in the supply chain and lead to more products being available at better prices. 7/
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Hopefully retailers will realise that they need to offer consistent value for money in order to retain the loyalty of their customers rather than exploit the situation to make short-term profits. 8/
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Natco is committed to supplying nutritious foods with the best value for money since we know many people rely on us and their own cooking skills to feed their family on a tight budget. 9/
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We also call on the government to protect the incomes of workers and self-employed people during this crisis to prevent poverty and hunger. 10/10
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Thank you for this reply. Whilst we understand that in time of crisis price is bound to increase buy the shops have just been exploiting the situation or the cash and carrys have.
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