May 14, 2020

Tyson Foods to reduce its beef product prices

The company will discount prices on specific products this week as grocery prices continue to rise due to the COVID-19 pandemic, reported CNN.

Tyson Foods said the discounts will be between 20% to 30% for its beef items sold to groceries, restaurants and other customers until May 16. These include chuck, round roasts and ground beef products.

Gary Mickelson, Tyson Foods senior director of public relations said the company is introducing the discounts to make beef affordable for the public. The company is aiming to resume operations in its meat plants.

Mickelson said the discounts may help other parts of the meat supply chain, which includes cattle ranchers. The company said it will work through available livestock backlog.

COVID-19 has pushed retail prices up at supermarkets as major meat producers were unable to quickly shift production from closing restaurants to retail.

  -    CNN