New figures show exact amount UK red meat prices have gone up by
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UK red meat prices have risen for the consecutive month, with beef prices increasing by 16.4% and sales volumes dropping by 6.5%. The price hikes are attributed to supply constraints and global volatility.
Red meat prices in the UK have continued to rise, with beef prices increasing by 16.4% in the 12 weeks to March 22. This has led to a 6.5% drop in sales volumes, with primary beef volumes suffering the steepest decline at 9.1%. Lamb and pork prices also rose, by 9.2% and 1.7% respectively, resulting in sales volume drops of 1.7% and 2.3%. The Agriculture and Horticulture Development Board (AHDB) attributes the price hikes to supply constraints and global volatility. Tesco, the UK's largest supermarket chain, has warned that uncertainty linked to the Iran war is clouding its outlook for profits. AHDB analyst Hannah McLoughlin noted that farmgate prices are expected to remain high, potentially impacting consumer confidence and spending. British Meat Processors Association CEO John Powell stated that production has held steady but is expected to fall as demand continues to climb.
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