Faroese food prices expected to rise due to higher oil costs

Rising oil prices are now affecting businesses in the Faroe Islands, with food costs expected to increase, according to a report by public broadcaster Kringvarp Føroya. The warning comes from management at PM Heilsøla, a major food supplier.

Suppliers to PM Heilsøla have announced price hikes, which the company says will likely impact most products if the conflict in the Middle East continues and oil prices do not fall. The retailer imports a significant portion of the food consumed in the Faroe Islands, and energy is used both in production and transport—meaning higher oil costs are expected to push up food prices further if the trend persists.

The report follows recent coverage in Degin og vikan, a Faroese news program.