25.08.2025 02:58
Due to weak supply caused by drought and high demand, the increase in red meat prices in the US, EU countries, and the UK over the past year has significantly outpaced inflation. In Turkey, where red meat prices are also on the rise, it is expected that they will continue to increase in the near future, leading citizens to stock up when they find cheap meat.
Global beef prices are at record levels due to a decline in livestock numbers, weak supply, increased demand, drought, and high tariffs. Global food prices rose by 1.6% in July due to increases in international meat and vegetable oil prices.
According to the FAO Food Price Index, which tracks monthly changes in international food prices, the Meat Price Index rose by 1.2% month-on-month in July, reaching a record level of 127.3 points. The annual increase in the Meat Price Index was 6%. The rate of increase in beef prices varies by country.
According to data published by the U.S. Bureau of Labor Statistics, the price of ground beef in the U.S., measured in pounds and equivalent to 453 grams, exceeded $6.3 in July. Thus, the price of ground beef in the U.S. has risen by 15.9% over the past year, significantly above the annual inflation rate of 2.7% during this period. Ground beef prices in the U.S. have shown a continuous upward trend for the past two years.
SHARP RISE IN THE EU AND UK
According to the weekly report prepared by the EU Commission on the meat market, beef prices have also reached record levels in EU member countries. As of the week of August 11-17, carcass beef prices in EU countries reached €662.31 for 100 kilograms, marking an annual increase of 32.8%. This increase occurred well above the annual inflation rate of 2.3% in the EU during the same period.
According to AHDB data, which tracks agricultural and livestock prices in the UK, beef prices have reached an all-time high in the country. In the UK, the price of ground beef rose from £7.2 per kilogram in August last year to £10.6 this year. The increase in ground beef prices over the past year reached 47%. During this period, inflation in the country was measured at 3.8%.
DROUGHT, INCREASED DEMAND, AND TARIFFS FUELING PRICES
According to FAO's latest analysis, the increase in global meat prices is driven by rising prices of beef and lamb. Beef prices have increased, particularly due to strong demand from China and the U.S. This increase in demand has also pushed prices up in major producers like Australia and Brazil. Additionally, the U.S. has imposed a 50% tariff on beef imports from Brazil as of July, which has restricted export flows and created upward pressure on prices.
On the other hand, the number of cattle in the U.S. fell to 86.7 million at the beginning of this year, the lowest level seen since the 1950s. This decline is attributed to various reasons, including prolonged drought in regions where livestock farming is common in the U.S., the drying up of pastures used for grazing, and rising feed costs.
RISING IN TURKEY AS WELL
Livestock experts warn that the results of steps to be taken and support to be provided in this area can only be obtained in the long term, predicting that the current situation in the market will not change in the short term and that the upward trend in beef prices will continue. While similar situations are occurring in Turkey, citizens are stocking up in their refrigerators when they find cheap meat.