September 1, 2011

UK's beef mince cost soars up to 25%

UK's supermarkets have increased the price of beef mince by as much as 25% in a month.

The cost of traditional family meals like cottage pie and spaghetti bolognese is soaring as the price of minced beef rockets.

Morrisons and Sainsbury's have raised the price of their 400g packs of budget mince by 25% to GBP1.20 (US$1.95).

Experts say it is the first time in more than two years that the price of mince has risen above GBP1 (US$1.62). Tesco have increased the price of minced beef to GBP3 (US$4.87) a kilogramme, pushing the cost of a 500g pack of their own label value mince from GBP1.20 (US$1.95) to GBP1.50 (US$2.43).

The price of Asda's budget mince, a blend of beef and pork, has been held.

Morrisons said they had kept the cost of their value mince as low as possible, but admitted higher wholesale prices had forced them to increase prices.

A spokesman said rises in commodity prices had driven up production costs at slaughterhouses and beef processors.

Sainsbury's claimed their increased price was still "great value".