00:00 Speaker a
Food prices rising in May from a month, taking into account the latest inflation of the Bureau of Statistics, known as your hood as BLS. Last month, the food or food index showed that prices increased by 3/10 percent. We saw that April That monthly number is reduced by 4/10 percent. Here we have Stu Leonard JR, Stu Leonard’s CEO and President. Stu, it’s always nice for some time with you. You know, only first, take us to areas, people with people’s shopping carts, parts you see most in moderation or customer retreat.
00:43 Stu Leonard Jr.
Well, you know, now, you know, we are a family business here in the northeast, UH, and UM, you know, we have eight stores, we have 100,000 customers a week and proud that we are on the floor and keeping our ears open what our customers say. So far, people feel quite confident, at least in our company, we haven’t raised prices yet, because rates or anything else, prices are currently the same. But you know what, the problem of supply and demand is currently arising. Like I talked to our rancher from the West, the herd size in America is the lowest that it was now 40, 50 years old. So, it is a problem with supply and demand. So I think you have a little distinguishing the cost of costs, which is not tariffs, not, which is because of supply and demand.
02:43 Speaker a
And it’s so interesting to hear herd problems you mentioned a moment ago. It occurs after birds’ influenza, of course, a lot of eggs and birds and chicken prices we also saw. So, I am wondering how much is behind until the transmission of a particular type and the prices that consumers have to go through usually occur.
03:19 Stu Leonard Jr.
Well, you know, Brad, one of the things we face with many small local companies, and many of them are in rates. At the moment, I have made some charts. It’s here, okay? So look at it, um, a little. Um,
04:03 Speaker a
Oh, vau.
04:34 Stu Leonard Jr.
You see it here? Can you or can you see this thing?
04:41 Speaker a
We do it. We do it. We got it out loud. You don’t need to adjust anything, stu. We got you.
04:47 Stu Leonard Jr.
It’s good that you got it. Okay, okay. But basically these are the elements of the tariffs we see the problem. Bananas are derived from Costa Rica, Pineapple, you know, Costa Rica, Peru. Hm, we currently have wines and champagne from Europe, all are rates. You know, so many of them are small suppliers. I mean that bananas are not that big. Rate increases by 10%. We divided it with the importer. So, um, we eat 5%, our family eats 5%. These are things that support us here. We have avocados. There is no tariff, salmon, no tariff. You know, you have to be a tariff at the moment, but as I said, it has risen a bit due to the sizes of our herd. And the lobsters here, we get used to carrying, I think the US has sent £ 80 million a year to China, and with those high rates we benefit the US because a lot of lobster is supplied, the price is slightly decreasing. Same with grapes, currently in California, we have taken them to our soil in the US, and the same as it has to do with melons, they are currently throwing them in Georgia, which are beautiful. So, the time is right for us because local products and local fruits and vegetables are online. I can’t do anything about pineapple and banana because we don’t go into the US with them.
05:01 Speaker a
Uh-huh.
07:00 Speaker a
Yes.