Meat Prices Set To Rise As Feed Costs Soar

by 5m Editor
28 August 2007, at 9:12am

LONDON - Retailers look set to raise meat prices as soaring feed costs and the recent outbreak of foot and mouth disease threaten the survival of the livestock industry, consultants Deloitte said on Tuesday.

"Consumers hold the key to a more resilient future. UK shoppers will have to pay more for their meat," Deloitte's farming and agriculture partner Richard Crane said in a news release.

Economists have said that Europe's rising food bills could feed through into higher inflation.

"Increased prices will allow farmers to continue to meet the increasing demand for local, high quality meat," Crane added.

"This is likely to be the inevitable cost of securing and also safeguarding the future of UK meat production. Without it, the opportunity to enjoy home-grown quality produce and British meat could become a rarity on supermarket shelves."

Source: Reuters

5m Editor