Australia-Rise in meat prices.
AUSTRALIA-RISE IN MEAT PRICES.
THROWING a tasty lamb chop or a T-bone on the barbecue has become a lot more expensive, with meat prices heading through the roof.
Latest figures reveal Melbourne consumers are paying record prices for a leg of lamb, while supermarket prices of T-bone steaks are up more than $1 a kilogram.
Pork forequarter chops are up a massive $1.58 a kg, while chicken is also costing more.
The good news for barbecue lovers is beef snags have held their price, and are 3c cheaper than in the December quarter.
Latest figures from the Australian Bureau of Statistics reveal it now costs far more for a standard basket of goods than before Christmas.
There are few savings at the checkout, with only items such as milk, onions and some beef products falling in price, milk being the beneficiary of the Rudd Government axing the 11c a litre milk tax in February.
As the global recession bites hard, with more Australians losing their jobs, average Melbourne supermarket prices for the first three months of this year are well above those recorded in the final three months of last year, the ABS figues show.
Bread, cheese, butter, breakfast cereal, rice, chocolate, sugar, eggs, coffee, and toilet paper are all up. Oranges and bananas have risen significantly in price.
But it’s the enormous meat price rises that have surprised industry experts.
The chief market analyst at Meat and Livestock Australia, Peter Weeks, said the price increases were hitting consumers hard.
"It is still somewhat surprising all the same that we’re seeing these rises for these quality cuts," he said.
"We know that consumers are tightening their belts."
But Mr Weeks believes there has been a surge in demand for some meat products because people are tightening their belts and turning away from restaurants, choosing instead to buy their meat from the supermarket and cook at home.
"It’s certainly a cheaper alternative," he said.
"And retail sales have gone up as a result."
Mr Weeks said higher lamb prices were due to strong overseas demand.
The low value of the Australian dollar has exporters sending more abroad, leaving less for Australians at home.
"A lot of the areas we’re seeing growth in are countries that haven’t been that badly affected by the recession, such as the Middle East," he said.
Future prices depended on "how bad the recession gets".
"It’s hard to see further rises," he said. "I don’t think that we’re going to see that kind of trend."