As African swine fever (ASF) continues to push through Asia, prices of both bacon and beef mince have risen sharply, reaching record highs.
Stats New Zealand showed bacon rising 11 percent to a record $12.96 for 700 grams, compared to $11.66 in July and $10.57 in August of last year.
New Zealand imports a lot of bacon, around 60 percent of the pork eaten here is imported, meaning that our prices are dependent on the global market. The spread of ASF has pushed prices up around the world, as well as creating a shortage of pork. In addition to pork, the price of ham has reached its highest price point since 2015. The average cost for a kilogram of ham is now $13.67, as opposed to $12.18 in July and $11.77 in August of last year.
The beef market has seen an increase in Chinese interest in our product, as China has recently overtaken the USA as our largest export market for beef. However, this has pushed beef mince prices up on our shores, too.
Click here to read more about ASF in relation to our foodservice industry.