Pork prices continue to rise
AHDB Trainee Analyst, Annie Linekar, explains that the rise in spending occured due to a relatively stable demand of pork products, consumers paying more for lower quantities of meat.
Roasting joints reported a decrease in volume sales on the year in the 12 weeks ended 13 August. The AHDB analyst says that this is due "to price inflation and a reduction in retailer promotional activity. In particular, the volume of shoulder roasting joints sold decreased by 15% year on year."
On the other hand, sliced cooked meat prices fell year on year by 0.4%, but there was a rise in volumes sold by 4%, this leading to a 3% total spend increase on the year in the mentioned period.
When reffering to bacon products, the AHDB analyst says that there was a rise in price by 1% and sales rose by almost 1%, "leading to total spend increasing by almost 2% year-on-year."
Furthermore, the average price for pork mince fell by 7% in the stated period, but there was an rise in the total sales volume of 26%, which led to an increase in total spend by 18% on the year. "This may be attributed to customers switching from higher priced beef mince, with the price difference between the two products increasing to £1.25/kg during the period."
Photo Source: Mconnors @morguefile
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