Rising Demand Increases Turkey Prices
Posted by Tom Shingler on
The rapidly expanding middle classes of India and China have increased global demand for meat, and contributed to the cost of turkey feed doubling over the past year.
British families could pay around £50 for an average 12lb turkey, a £10 increase from last year.
Sean Rickard, agricultural economist, said, “For every pound of poultry meat produced, you need two and a half ounces of grain. The effect of rising living standards in countries like China and India is that the people are eating more meat and dairy products.
“Consequently, we have seen world grain prices rise and these higher costs are feeding through to retailers and in particular to fresh meat and dairy foods.”
Up to 70% of a turkey's daily food is grain and farmers have been faced with wheat and soya doubling in price.
The cost of fresh turkey meat has already risen by up to 20% over the past year.
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