#59 - The Future of Frying: Oil Markets, Supply Chains, and What It Means for Fish & Chips with Gary Lewis

The world of edible oils is more complex than many realise, and few people understand it better than Gary Lewis, Head of Business Development at KTC Edible Oils and President of the National Edible Oils Distributors Association (NEODA). In Episode 59 of The Ceres Podcast, host Stelios Theocharous sits down with Lewis to unravel the ripple effects of global events on the fish and chip industry. If you want to stay ahead of the curve, this episode is essential listening.

The conversation starts with a deep dive into the turbulence in edible oil markets. Lewis explains how the COVID-19 pandemic caused supply chain disruptions, sending shockwaves through the industry. He highlights how retail demand surged while food service took a major hit, forcing suppliers like KTC to shift strategies quickly. One of the most eye-opening revelations? China’s sudden withdrawal from the global market at the pandemic sent edible oil prices tumbling, only for demand to return more potent than ever. This kind of market volatility has long-term implications for pricing and supply stability—something every fish and chip shop owner needs to keep an eye on.

Beyond food production, edible oils play a crucial role in biodiesel manufacturing. Lewis shares staggering statistics: 70% of all rapeseed oil and 61% of palm oil in Europe are used in biodiesel production. With crude oil prices plummeting, biodiesel became uneconomical, unexpectedly disrupting demand for edible oils. Many in the fish frying trade may not have considered this connection between energy markets and food prices. Shipping backlogs, port congestion, and labour shortages have all compounded existing issues in the supply chain. Lewis discusses how suppliers have had to remain flexible, working with customers to manage inventory levels and price fluctuations. He also touches on currency fluctuations—how a weakened pound has driven up costs for imported commodities like frying oils and dripping.

With an eye on the future, Lewis and Theocharous discuss the importance of adaptation. As the market stabilises, opportunities emerge for fish and chip shops to lock in favourable pricing and plan ahead. National Fish and Chip Day, an industry highlight, is also set to return, and Lewis hints at how this year’s event could play a pivotal role in reviving the sector. This episode is packed with insights that every fish and chip shop owner needs to hear. Lewis brings a wealth of industry knowledge, breaking down complex market forces into actionable takeaways. From securing supply chains to understanding global demand shifts, his expertise helps listeners make informed business decisions.

Listen now and subscribe to The Ceres Podcast for more expert insights.