Burger King has scrapped tomatoes from its wraps and burgers in many Indian outlets after prices more than quadrupled, the latest symptom of surging food inflation that is hitting consumers hard across the world's most populous nation.
NEW DELHI/CHENNAI, Aug 16 (Reuters) - Burger King has scrapped tomatoes from its wraps and burgers in many Indian outlets after prices more than quadrupled, the latest symptom of surging food inflation that is hitting consumers hard across the world’s most populous nation.
Rival Domino’s (DPZ.N), meanwhile, has tried bringing down prices to appeal to struggling consumers with a $0.60 pizza - its cheapest in the world.
Restaurant Brands Asia (RESR.NS), which operates Burger King in India, did not respond to requests for comment.
The pain is spreading with July retail inflation data released this week showing prices of vegetables rose 37% over a year.
As well as placing pressure on the margins of foreign chains operating in India’s nearly $5 billion market for fast-food restaurants, the price shocks pose a challenge for Prime Minister Narendra Modi’s government ahead of a national election next year.
To manage the supply crisis, India has started tomato imports from Nepal, and has organised vans to distribute the staple at cheaper rates across the nation, with social media posts showing huge queues.
This is the best summary I could come up with:
NEW DELHI/CHENNAI, Aug 16 (Reuters) - Burger King has scrapped tomatoes from its wraps and burgers in many Indian outlets after prices more than quadrupled, the latest symptom of surging food inflation that is hitting consumers hard across the world’s most populous nation.
Rival Domino’s (DPZ.N), meanwhile, has tried bringing down prices to appeal to struggling consumers with a $0.60 pizza - its cheapest in the world.
Restaurant Brands Asia (RESR.NS), which operates Burger King in India, did not respond to requests for comment.
The pain is spreading with July retail inflation data released this week showing prices of vegetables rose 37% over a year.
As well as placing pressure on the margins of foreign chains operating in India’s nearly $5 billion market for fast-food restaurants, the price shocks pose a challenge for Prime Minister Narendra Modi’s government ahead of a national election next year.
To manage the supply crisis, India has started tomato imports from Nepal, and has organised vans to distribute the staple at cheaper rates across the nation, with social media posts showing huge queues.
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