Consumers could face huge increases in pork prices next year unless retailers pass on a modest rise in retail prices now to cover higher production costs, pig producers have warned.
Shoppers may have to pay 60p more for a packet of eight sausages, 70p more for 10 rashers of bacon or £2.50 extra for a joint, if mounting losses in the pig industry force producers out of business, Bpex has warned.
By contrast, if producers were allowed a 10p/kg increase now, consumers would have to pay only 12p more for eight sausages, 14p more for a pack of bacon and 50p more for a joint.
“An increase of a few pence now on the price would cut farmers’ losses and prevent massive increases to shoppers next year,” said Andrew Knowles, Bpex head of communications and supply chain development.
Bpex claims producers are losing £14 on every pig they produce as farmers grapple with higher feed costs.
Bpex claimed consumers would be willing to pay more, citing a YouGov survey of 2010 people which showed 64% agreed it was right that shoppers should pay a little more if farmers costs have gone up.