“The industry is making great efforts to make up for the shortage of materials.”

The increase in factor prices is a “tremendous challenge” that will reflect on the entire chain – production, industry, distribution and the consumer – and the equilibrium should only reach “mid” 2022, according to the CEO of PortugalFoods.

“We are now facing a well-known situation regarding the increase in production costs, whether through increased energy, fuel or raw material shortages. There is a whole series of challenges that are emerging. At the moment, PortugalFoods CEO, Deolinda Silva, said in Lusa’s remarks that They have to do it with external factors, which we cannot control.”

At the moment, the “challenge is enormous”, specifically for agri-food, and the impact of this increase will be reflected in all links of the chain – production, industry, distribution and consumers. Only in the middle of 2022 should there be “some equilibrium”, which can be accompanied by an increase in export values.

“At this moment, the challenge facing companies is clear […]. He stressed that the industry is making great efforts to make up for the shortage of materials, as well as the huge increase in the prices of these commodities.

Deolinda Silva also highlighted the sector’s “exemplary behavior” throughout the pandemic, responding to demand, and betting on opening new markets.

On the other hand, the diversification of sales has accelerated due to the emerging corona virus, and in addition to physical stores, companies want to be present in the national and international markets. He noted that “innovation, at this moment, is the key to survival. In the medium and long term, those who do not innovate will not grow, and will not have opportunities for companies that invest in innovation.”