Home Food & Shopping Why the price of your meat is soaring

Why the price of your meat is soaring

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Meat prices skyrocket, forcing budget-tight families to reduce portion sizes, buy cheaper cuts and even STEAL

Australian shoppers are being slapped with soaring meat prices blamed on high global prices and low supply.

According to the Australian Bureau of Statistics, beef and veal prices have increased up to 24 per cent in the past five years, while lamb and goat prices have jumped 20 per cent.

As Australian beef producers try to recover from the 2012 drought which wiped out a large number of cattle, consumers have opted to changing their diets, switching to cheaper options, and even stealing, according to The Daily Telegraph. 

One man stole two trolley-loads of meat this year, worth a combined $1454, from Coles and Woolworths stores in the same shopping centre

One man stole two trolley-loads of meat this year, worth a combined $1454, from Coles and Woolworths stores in the same shopping centre

Meat & Livestock Australia’s chief marketing and communications officer, Lisa Sharp, said cattle supplies were likely to remain tight this year.  

‘Prices will be impacted both positively and negatively due to seasonal conditions and the how fast the Australian beef production recovers,’ Ms Sharp said. 

Ms Sharp also revealed 82 per cent of Australian household have red meat due to the country being the world’s sixth-largest consumers of red meat per capita.  

As shoppers switch to cheaper cuts and reducing portion sizes, those who steal meat are being targetted by Coles and Woolworths. 

The Daily Telegraph reported one man stole two trolley-loads of meat this year, worth a combined $1454, from Coles and Woolworths stores in the same shopping centre.

The increase of meat prices is also causing a lot of pressure on households.

The Australian Bureau of Agricultural and Resource Economics and Sciences predicts there will be more beef price increases from 2021. 

Woolworths CEO Brad Banducci said the supermarket is looking to make red meat more affordable as families switch to other proteins.

Australian shoppers are being slapped with soaring meat prices blamed on high global prices and low supply

Australian shoppers are being slapped with soaring meat prices blamed on high global prices and low supply

According to the Australian Bureau of Statistics, beef and veal prices have increased up to 24 per cent in the past five years

According to the Australian Bureau of Statistics, beef and veal prices have increased up to 24 per cent in the past five years

  

 

 

 

 

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