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Food prices: Aldi surprisingly lowers prices for meat

2022-07-04T14:58:57.966Z

Meat and sausage prices have risen sharply in recent months. But now the discounter Aldi is announcing a reduction. Other retail chains could follow suit. The reasons for this are diverse.



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Meat counter at Aldi: consumption declining

Photo: Sven Simon / imago images

In recent months, food prices have only known one direction: up.

However, there seems to be a trend reversal in the prices for meat and sausages.

The discounter Aldi has reduced the price of numerous fresh meat products from mixed minced meat to beef steak.

The retailer is thus passing on falling purchase prices to customers and making a contribution to reducing inflation, said a company spokesman on behalf of Aldi Nord and Aldi Süd in Essen about the price reduction, which the "Bild" newspaper had previously reported on.

Aldi's step is also likely to have an impact on large parts of the rest of the trade.

After all, many competitors, especially in the entry-level price range, are still orienting themselves towards the inventor of the discount.

Germany's largest food retailer Edeka announced accordingly: "We also value good value for money and will adjust the prices for some meat products to the new market situation in the coming days." The discounter Netto, which belongs to the Edeka Group, made a similar statement .

The competitor Rewe explained: "We are in constant talks with our suppliers regarding the cost situation and market development and of course pass on possible price reductions directly to our customers."

pounds of ground beef for less than four euros

Most recently, the prices for meat and sausages had risen even more than those for groceries as a whole.

In May, the price of meat and meat products was 16.5 percent compared to the previous year, as reported by the Federal Statistical Office.

That was double the overall inflation rate of 7.9 percent.

For food in general, 11.1 percent more was due in May.

The price reductions are noticeable in the wallet, especially during the barbecue season: the price for 500 grams of mixed minced meat at Aldi fell from 4.59 euros to 3.99 euros.

Bratwurst from pork in the 400 gram pack was reduced from 3.49 to 2.99 euros.

The price for a kilo of beef steaks fell from 27.99 euros to 24.99 euros.

The upward trend in meat prices seems to have been broken for the time being.

"After there was a significant increase in the market at the beginning of the year, we are currently seeing base prices falling again, especially for pork," reported Aldi.

This is not least due to the still high overcapacities in Germany.

There are a number of reasons for the large supply in meat production.

Meat consumption in Germany has been declining for some time.

According to the Federal Agency for Agriculture and Food, it was 55 kilograms last year.

Ten years earlier it was 7.8 kilograms more per person per year.

Instead, the business with vegan and vegetarian meat substitutes is booming.

In addition, the high inflation is apparently spoiling the desire for sausages, chops and steaks for many people at the moment.

"Despite the good barbecue weather, demand is not really picking up yet," observed the agricultural information service AMI.

According to a representative Forsa survey published a few weeks ago, 42 percent of people in Germany have reduced their meat and fish consumption in order to cook more economically.

In addition, the previously flourishing export business of the German meat industry is still suffering from the outbreak of African swine fever.

apr/dpa

Source: spiegel

All business articles on 2022-07-04

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