Red meat continues to offer value in your grocery trolley

By Jason Strong, Managing Director, Meat & Livestock Australia (MLA)

The cost of living is dominating the news. Every time we read the paper or watch the news, there’s another story about inflation eroding the value of our dollar.

In that context, I recently had someone ask me: can people no longer afford to eat red meat?

It’s a valid question when household budgets are getting tighter. But when we look at the value of red meat, the question should be looked at from another angle.

When we talk about affordability, it is also incredibly important to have a conversation about value. First off, red meat is a very high-quality product. It’s consistent and reliable.

This consistency and reliability has been driven by a system called Meat Standards Australia, which is based on almost 1.2 million consumer taste tests by more than 171,000 consumers from 11 countries, taking into account all factors that affect eating quality from the paddock to plate.

In addition to quality, we can also look at how red meat can be the centrepiece of a meal, helping us feel full with its protein and provide a range of fantastic nutrients like zinc, iron, and others. Finding these essential nutrients from other food sources can be difficult and more expensive.

Red meat is also free from additives and it comes from trusted providers: Australian farmers.

When we talk about the affordability of red meat, it’s also important to remember that there is a range of red meat options that can suit a range of household budgets.

We absolutely believe red meat can and should continue to be a centrepiece of the Australian diet and that meal can be just as delicious whether you are eating eye fillet or lean mince.

The cost of living is currently undergoing scrutiny by a national Parliamentary Inquiry, and MLA presented to this inquiry in Brisbane in February this year. One of my key messages to this inquiry is that gram for gram, red meat is still considerably cheaper (and better value) than other common foods like chips, processed biscuits, muesli bars, and cereals.

When it comes to food inflation, red meat has experienced less of a price rise than many other grocery items.

According to Australian Bureau of Statistics (ABS) data, prices for products in the food and non-alcoholic beverage subgroup rose 9.2% over the last 12 months.

Amongst the food and non-alcoholic beverage category, the price of meat and seafood increased by the least amount – up 8.2% annually. The food groups that experienced the highest price rises in the last 12 months were dairy and related products (up 14.9%), bread and cereal products (up 12.2%), and non-durable household products (up 12%).

Over the past 12 months the price of fresh fruit and vegetables have increased at a faster rate than meat and seafood. Vegetable and fruit prices were up 8.5% in 2022.

According to ABS data, both beef and lamb retail prices fell in the December 2022 quarter. Beef prices fell 0.28% and lamb fell 2.49%.

There is no disputing that the red meat supply chain is subject to the same inflationary forces as the rest of the economy – labour, energy, transport. These all have an impact on production and processing, along with other issues like recovery from drought and fires and, more recently, major flooding.

At the end of the day, the whole supply chain is very focused on providing a high-quality, nutritious product for Australian consumers.

The immense value is there – in the tasty piece of red meat on your fork and in the nutritional benefit that it provides your body.