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| Shoppers 'face meat price rises' | |
| (about 1 hour later) | |
| Meat prices are set to increase as farmers pass on the burden of surging costs, a report has suggested. | Meat prices are set to increase as farmers pass on the burden of surging costs, a report has suggested. |
| With wheat prices rising, animal feed costs have almost doubled for farmers, the study by Deloitte found. | |
| The group warned price rises were vital for an industry at "breaking point" after the recent foot-and-mouth scare and floods had taken their toll. | The group warned price rises were vital for an industry at "breaking point" after the recent foot-and-mouth scare and floods had taken their toll. |
| The warning comes days after consumers were told to prepare for rising bread prices as wheat costs hit records. | The warning comes days after consumers were told to prepare for rising bread prices as wheat costs hit records. |
| Bad weather in key grain growing areas such as Canada and parts of Europe has limited supplies as demand has risen, sparking fears of a grain shortfall. | Bad weather in key grain growing areas such as Canada and parts of Europe has limited supplies as demand has risen, sparking fears of a grain shortfall. |
| Some of the rising demand has come from the biofuel industry, which uses the grain to produce ethanol for cars. | Some of the rising demand has come from the biofuel industry, which uses the grain to produce ethanol for cars. |
| Widening risks | Widening risks |
| Wheat prices surged to a fresh record of $7.44 a bushel last week on the benchmark Chicago Board of Trade market in the US. | Wheat prices surged to a fresh record of $7.44 a bushel last week on the benchmark Chicago Board of Trade market in the US. |
| "Consumers hold the key to a more resilient future. UK shoppers will have to pay more for their meat," said Richard Crane food and agriculture partner at Deloitte. | "Consumers hold the key to a more resilient future. UK shoppers will have to pay more for their meat," said Richard Crane food and agriculture partner at Deloitte. |
| "Increased prices will allow farmers to continue to meet the increasing demand for local, high quality meat." | "Increased prices will allow farmers to continue to meet the increasing demand for local, high quality meat." |
| "Without it, the opportunity to enjoy home-grown quality produce and British meat could become a rarity on supermarket shelves." | "Without it, the opportunity to enjoy home-grown quality produce and British meat could become a rarity on supermarket shelves." |
| But the industry is not just at risk at home. | But the industry is not just at risk at home. |
| The business advisory group added that the recent outbreak of foot-and-mouth could prompt other countries to close their door to British exports - an industry worth £493m a year. | The business advisory group added that the recent outbreak of foot-and-mouth could prompt other countries to close their door to British exports - an industry worth £493m a year. |
| A drop in UK meat production, and subsequent falls in exports, would allow rival nations to ramp up their production and gain a "competitive edge" over the UK, the report said. | A drop in UK meat production, and subsequent falls in exports, would allow rival nations to ramp up their production and gain a "competitive edge" over the UK, the report said. |