One of the UK’s leading trade credit insurers, Atradius, has revealed that the number of claims for late or failed payments in the food and drink sector fell by 59 per cent between May 2023 and May 2024.
Sector expert at Atradius, Georgios Panzaris, said that demand in the food sector had remained relatively strong despite the cost-of-living crisis. A drop in material and utility costs coupled with the persistently high sale prices has translated to improved profits for most food companies.
The improvement in claims comes as the sector has endured a challenging time, weathering supply chain disruptions, volatile weather, rising input costs and labour shortages.
