Fresh pork struggling to attract retail demand
GB pig prices have been under pressure in recent years. In part, this is because of increasing supplies on the UK market, due to both higher domestic production and rising imports. However, as always, demand is also part of the equation.
Normally, as prices for a product decrease, we expect it to become more attractive to consumers, leading to higher purchases. Conversely, as prices rise, less is bought. Until the middle of 2014, this general pattern seemed to hold true for pork as well as for other meat products, based on analysis of data from Kantar Worldpanel. However, from the autumn of 2014, the normal pattern appears to have changed. Since then, prices paid for pork in retailers have been consistently lower but the amount of fresh/frozen pork purchased has also been down on a year before.
To read further analysis of this situation and some of the factors behind it, click here.
Stephen Howarth, Market Specialist Manager
Stephen.email@example.com, 024 7647 8856