The value of markets in the food industry was stressed yesterday at the National Foods Market Conference at the Barbican Centre, London.

Dr Martin Caraher, Centre for Food Policy, City University suggested that markets are vital components of the food industry and central to five key aspects namely food culture, ideology, civic life, the economy and health issues.

Key challenges to face up to are that the food economy is globalised; foods are sourced from everywhere in the world; huge changes of ownership have applied with the emergence of giant supermarket chains; food itself has seen both physical and technological change alongside the nature of processing and transportation and ultimately the consumer now presents demands with different patterns of lifestyle.

Challenges for markets to now meet are that innovation is needed for all types of market if they are to thrive and prosper. Markets must look at exchange in terms of their offer to local people and local economies. A huge role exists for markets as part of civic life but this must extend beyond financial markets with a theme of reinvestment. Education is needed on who is in control of food and finally, market operators must recreate or recapture their vision for their local markets.