EO Philip Clarke has warned that the era of cheap food will soon be over, as global demand soars."Over the long run I think food prices and the proportion of income spent on food may well be going up. Because of growing demand it is going to change. It is the basic law of supply and demand," Clarke said on Sunday.
Clarke's admission came as a new poll, commissioned by the Prince's Countryside Fund to mark National Countryside Week, revealed that a majority of UK consumers would be happy to pay more for food if they knew the extra was going to farmers rather than to supermarket bosses.
His comments follow those of Mark Price, Waitrose managing director, who previously has asserted that food price inflation is inevitable.
Tesco faced accusations of profiteering yesterday, after increasing the price of its basic bottled water by 40% during the ongoing UK heat wave.
