While the US finance space expected 2021's inflation to be transitory and potentially recede along with COVID cases, it has instead become the new normal for seafood customers.
Most of Wells Fargo's customer across its food and agriculture portfolio are struggling with the high cost for raw materials and services across the food supply chain, the financial services company's Food & Agribusiness Relationship Manager Michael Richard told IntraFish.
"We don’t see this automatic button you push where you're going to have ample supplies, clear log jams, and have labor availability," he said.
