June 1, 2022

 

UK chicken prices expected to cost as much as beef

 

 

Steve Murrells, chief executive of the Co-op, one of the UK's biggest food retailers, has warned that chicken prices are expected to cost as much as beef due to rising production costs, The Guardian reported.

 

Murrells said soaring feed costs are a significant issue for the poultry sector.

 

The UK's most popular consumed meat is chicken, far higher than beef, pork, or lamb. Rising chicken prices in the country comes as household food bills are also increasing, affecting low income consumers.

 

2 Sisters, the UK's biggest poultry supplier, warned consumers in late-2021 that chicken prices need to be increased to reflect rising production costs.

 

Ranjit Singh Boparan, the owner of Bernard Matthews and 2 Sisters Food Group, said the higher prices for poultry meat was caused by rising commodity prices and labour shortages.

 

2 Sisters process more than 10 million birds weekly at its facilities in the UK and in Europe.

 

In March, 2 Sisters said its livestock feed costs have increased, with prices from the farm gate up 50% in a year.

 

UK fast food chains such as KFC and Nando's have already increased prices, but a whole chicken can be purchased at a supermarket for less than GBP 3 (~US$3.79; GBP 1 = US$1.26). Tesco and Aldi are selling a whole chicken at GBP 2.89 (~US$3.65) or GBP 2.08 (2.62) per kg. Tesco sells beef mince at GBP 3.78 (~US$4.77) per kg.

 

Data from the UK National Statistics show the average chicken retail price is up GBP 0.31 (~US$0.39) or 12% to GBP 2.98 (~US$3.76) per kg in the past 12 months. Both chicken and beef prices are similar on premium products such as organic foods.

 

Murrells said consumers may decide to switch to other meats or vegan alternatives if chicken prices keep rising.

 

-      The Guardian