Meat prices continue climbing

Cypriot consumers are getting a price-battering at supermarkets, as meat products went up by a whopping 30% in the past two weeks, according to butchers.

In comments to news site Brief, the head of the Cyprus Butchers Association, Costas Livadiotis, said the market should brace itself for more increases in meat prices.

The butcher’s association is looking into managing the increases to buffer consumers.

Butchers argue they have been absorbing increases; however, these hikes significantly raise the retail price.

Livadiotis said that butchers would have to deal with a 30% rise in the wholesale cost of veal and beef and a 5% increase in pork, recorded in the past two weeks.

He added that pork prices had increased four times within the past two months, each by 10 cents.

As a result, pork meat went from being sold at €1.60 per kilo in July to €2 by September, increasing by 25%.

The price of chicken has also increased by 25%.

Livadiotis argued that the price hike is down to high inflation and the increased cost of raw materials used in animal feed, such as wheat and barley.

He pointed out that prices of raw materials are on the rise, warning that consumers will be in for more shocks in the coming weeks.

Higher prices leading to reduced consumption of domestic beef and increased imports will create problems for the animal husbandry sector and the supply of domestic beef, butchers argue.

Due to hiking prices, the association expects to see more than 10% of consumers restricting their meat consumption.

Livadiotis advised consumers to buy the quantities they need to minimise waste.

In August, price inflation was 8.9% from a record 10.9% in July, driven by hikes in electricity and fuel.