Pictured above: Tom Vosa, who was the guest speaker at a food manufacturing conference

A leading economist spoke about the expected trends in the food manufacturing sector at a teleconference in Coventry.

Yorkshire Bank economist Tom Vosa presented an overview of the current economic climate and its impact on the food manufacturing sector at the event at Yorkshire Bank's Financial Solutions Centre at the Ricoh Arena in Coventry.

Brian Colquhoun, regional director for Yorkshire Bank who hosted the event, said Tom's opinions on how the global economy could affect businesses in this region had been heard by invited customers to the teleconference.

He said: "Tom didn't shy away from underlining the difficulties the industry is currently facing and will continue to have to contend with as food and fuel prices continue on an upward spiral.

"He said our economic recovery remains fragile as increases in raw materials and energy prices rise.

"There is a worry that there will be a shortage in food supplies across the world and the increase in VAT to 20 per cent hasn't helped the food manufacturing industry in the UK.

"Unpredictable weather is another factor which has to be considered since frost and freezing temperatures can affect supply and demand of fresh food.

"Overall Tom believes the inflation of food prices will remain volatile in the short-term particularly because of the cost of fuel driving up the cost of delivering items to their destinations."

The teleconference was followed by a networking lunch for members in Yorkshire Bank's boardroom at the Ricoh Arena.

Brian added: "Yorkshire Bank has vast expertise in the food and drink sector and holding events such as this is part of adding real value by creating partnerships and relationships with our customers."