Meat prices could be coming down soon – but it depends on wider market conditions.
Retail prices for beef could start dropping in the coming months as demand eases due to economic pressures. However, unless the rand strengthens significantly, food prices in general are likely to stay higher for longer.
However, the BFAP said that with consumer spending power under increasing pressure and exports moving slower than normal, beef carcass prices have started to decline, “and this could spill into retail prices for meat products over the coming months”.
Unless these costs start dropping significantly, prices across other food categories could prove sticky.
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