Christmas dinner prices on the rise
Business management consultant Mintec’s Christmas Dinner Index indicates that the cost price of a turkey dinner has gone up by 1% since last year.
Consequently, it is suggested that it is highly unlikely that 2016’s festive season will be cheaper than that of 2015.
In addition, the index shows that UK turkey prices were shown to be down by 2% year-on-year, although Mintec states that turkey prices are likely to increase further between now and Christmas, due to higher demand.
In 2015, turkey prices were generally higher than in 2016 due to global concerns over avian flu.
Turkey meat is not only used for the Christmas bird in many UK households, but also consumed in the run up to Christmas, where demand generally peaks for turkey in the retail and restaurant trade.
Reportedly, in anticipation of the festive demand, September turkey slaughters were up 10% year-on-year, totalling 1.3m birds.
Mintec’s Christmas Dinner Index also shows that pigs in blankets could be regarded as more of a luxury item this year, with pork prices on the up in 2016.
Since May, UK pork prices have been following an upward trend and were up 14% year-on-year in October. It’s said that this has mainly been driven by higher export demand from China, due to low prices seen at the start of the year and lower production forecasts in 2016.
Exports in August were up 3% year-on-year totalling 15,900 tonnes, with China being the main destination (accounting for 68% of total stock).
Production of UK pork in September was down 2% year-on-year, totalling 78,000 tonnes.