Soaring food prices another punch in the restaurant industry | Local News
PORTLAND, Ore. (KPTV) – What restaurants are offering is gnawing at profit as commodity prices skyrocket and supply chain issues make it harder to buy.
Restaurant managers told Fox 12 that it is getting harder and harder to find the products they need, and what they can get sometimes costs thirty to forty percent more than usual.
Market volatility makes menu planning difficult, and owners are reluctant to raise prices because they fear scare customers away.
The added stress adds to a labor shortage making restaurant staff difficult and of course you can’t forget the pandemic and how restaurants weathered the closures.
“In all areas, we have challenges,” said Jason Brandt, CEO and President of the Oregon Restaurant and Lodging Association (ORLA).
“Local restaurants are at a dead end,” Brandt said. “They’re just trying to stay alive to earn a dollar today, but what about all this debt they were racking up for the benefit of the public interest – via COVID – that has yet to be paid.”
According to Brandt, more than half of the restaurants in Oregon that have applied for federal assistance through the Restaurant Revitalization Fund have yet to see any of the money.
Brandt said about 2,600 restaurants are in desperate need of funding to keep their doors open.
ORLA calls on federal officials and Oregon congressional leaders to immediately reduce these funding controls.
As winter approaches, Brandt said restaurants are at additional risk as patios close for the season.
According to ORLA, meals on the terrace can represent around 20% of a restaurant’s daily sales.
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