November 14, 2023
Federal Member for Flynn Colin Boyce has called on the Federal Government to investigate supermarket meat prices.
Mr Boyce said Treasurer Jim Chalmers and Agriculture Minister Murray Watt must urgently direct the Australian Competition and Consumer Commission (ACCC) to hold a price inquiry.
“According to Meat and Livestock Australia, some sheep and lamb categories have fallen by up to 70 per cent in the saleyards in the last 12 months,” Mr Boyce said.
“Lamb prices have drastically reduced, and cattle prices have fallen by about 60 per cent. Yet families at the supermarkets have barely noticed a difference in prices.”
Mr Boyce said that while a farmer’s payment for cattle (Eastern Young Cattle Indicator index) had fallen from $10.21 per kilo to $3.65 per kilo over the past 12 months, at supermarkets it still cost about $36 a kilo for grass-fed rump steak, $25 a kilo for beef rump roast and $19 a kilo of grass-fed beef mince.
A farmer’s payment for lamb (National Trade Price index) had fallen from $8.39 per kilo to $4.82 per kilo, yet families were paying $27 for a kilo of grass-fed lamb boneless shoulder roast, $18 for a kilo of lamb loin chops and $8 a kilo for lamb leg roast.
Mr Boyce said a competition taskforce recently established by Labor to conduct a review of competition policy settings had failed to provide the urgent response that families and farmers required.
“This is impacting family budgets in Flynn right now. It needs an urgent response because families and farmers can’t afford to wait potentially two years for answers,” Mr Boyce said.
“Unlike a review, the ACCC would also have greater power to act.
“Many families are struggling to afford their grocery bill each week so it’s important the government acts swiftly to ensure there’s transparency in meat prices.”