Kantar Worldpanel has released the latest figures for the value of Meat, Fish and Poultry (MFP) for the 12 weeks ending 14th August 2016, and the results indicate a drop in value in the market.
The figures show that fresh primary meat and poultry experienced strong volume growth over the 12 week period.
Beef has seen value growth slow as roasting joints decline. But despite 450,000 more shoppers buying beef this year, falling prices across the cuts have suppressed value. However, promotional investment has helped to stimulate volume growth.
Mince has been resilient, helping to drive volume growth through price cuts which have doubled in volume terms year on year.
Poultry has continued to see volume growth, but limited value growth coming through in chicken and turkey, as promotional levels have increased.
Kantar says that promotions have changed, moving more towards price cuts. These promotional offers give a clear price proposition, but Kantar suggests that these are likely to subsidise shoppers already buying into the market regularly.
The MFP figures indicate that chicken breasts remain a key cut in poultry, with the Economy and Standard tiers contributing to the performance, driving prices down and suppressing growth despite 840,000 additional shoppers.
Legs are key to both chicken and turkey growth, as more shoppers buy into these cuts, similarly stimulated by price cuts.
The next data release with be in four weeks’ time.
This story was originally published on a previous version of the Meat Management website and so there may be some missing images and formatting issues.
