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2017 Meat Price Index – GBP


At Caterwings, analysing food prices is vital for providing our clients with great service. To support our expansion into foreign markets, we commissioned a study into the price of some food items across the world. The data quickly yielded some interesting results, particularly in the meat sector. Not only does the price of meat vary massively from country to country, but there is also an enormous disparity in its affordability for people all around the world. To share these insights, we created the 2017 Meat Price Index.

The research began by focusing on the top worldwide producers and consumers of meat, looking specifically at beef, chicken, fish, pork and lamb. After reviewing hundreds of food retailers, a list of countries was compiled focusing on the biggest producing and consuming meat markets. The data was gathered by analysing meat prices in every country’s top cities, which needed to account for at least 25% of the total country’s population. To determine affordability, these prices were cross-referenced with the minimum wage of each country and then calculated into the relative number of hours a person must work to be able to buy each type of meat.

To rank the index, we calculated the deviation percentage for each country to show how comparatively affordable or expensive each one is. This illustated that Switzerland has the highest meat prices, while Ukraine has the lowest. The findings which were most interesting however, were that despite low prices of meat in countries such as India, someone on minimum wage must work almost a whole week to buy a piece of meat, while those in Norway would need to work less than 1 hour on minimum wage to afford the same.

“What began as a simple catering cost price index for market research has raised some important questions.” Commented Caterwings Managing Director, Susannah Belcher. “It is clear that international inequality exists, and as the world begins to rethink the implications of globalisation, this study clearly demonstrates that food prices ought to be on the agenda.”

Hours to purchase on country's minimum wage
% difference of local costs compared to world average*
Meat Consumption (kg/person/year)

Beef

Leg Round
Tenderloin
Mince

Chicken

Breast
Leg

FISH

White
Salmon
Shrimp

Pork

Chop
Sausage
Ham

Lamb

Chop
 
Top producers of...
Beef
Chicken
Fish
Pork
Lamb
Beef
Chicken
Fish
Pork
Lamb
# Country
Top
 Producers 
Leg Round
Tenderloin
Mince
Hours
Percentage
Breast
Leg
Hours
Percentage
White
Salmon
Shrimp
Hours
Percentage
Chop
Sausage
Ham
Hours
Percentage
Chop
Hours
Percentage
Consumption
Avg. %
1. Switzerland £38.10 £48.41 £15.96 3.10 149.30 £20.81 £8.68 1.40 222.10 £14.94 £25.54 £27.48 2.10 49.30 £15.64 £16.06 £32.14 2.00 115.10 £37.50 3.40 173.50 74.70 141.86
2. Norway
£21.89 £45.17 £10.39 1.70 88.40 £10.50 £7.31 0.60 94.50 £13.77 £23.75 £21.00 1.30 28.60 £5.46 £9.51 £21.48 0.80 22.80 £25.24 1.60 84.10 66.00 63.68
3. Hong Kong £15.97 £54.98 £6.99 7.50 89.60 £4.04 £5.00 1.30 -1.30 £13.98 £33.98 £18.58 6.40 46.20 £14.55 £7.88 £33.73 5.40 89.30 £24.80 7.20 80.90 34.30 60.94
4. Israel £13.88 £40.10 £6.40 3.70 46.90 £7.27 £5.77 1.20 42.40 £8.36 £28.43 - 3.40 21.30 - - - - - £27.15 5.00 98.10 96.00 52.18
5. Sweden £13.06 £42.55 £8.43 1.40 55.80 £10.95 £5.48 0.50 79.50 £10.08 £18.85 £20.95 1.10 9.60 £8.81 £6.84 £25.43 0.90 38.40 £21.24 1.40 54.90 80.20 47.64
6. South Korea £16.60 £44.26 £13.62 5.70 81.20 £6.24 £6.12 1.40 35.10 £7.97 £22.23 £29.45 4.60 31.10 £6.80 £4.59 £30.33 3.20 40.60 £13.48 3.10 -1.70 58.60 37.26
7. Finland £12.49 £34.39 £6.71 2.80 30.40 £8.69 £5.78 1.10 58.10 £9.00 £20.83 £16.41 2.40 1.60 £11.48 £9.06 £21.18 2.20 40.60 £19.89 3.10 45.10 74.80 35.16
8. Japan £13.17 £43.08 £9.15 4.30 59.10 £6.24 £3.76 1.00 9.20 £9.15 £13.53 £16.79 2.60 -13.30 £11.23 £9.17 £22.25 2.80 43.70 £24.07 4.70 75.60 45.90 34.86
9. Belgium £13.90 £36.10 £6.47 2.40 37.40 £8.26 £4.38 0.80 38.10 £14.91 £23.40 £24.99 2.60 39.10 £6.51 £7.85 £19.80 1.40 15.10 £17.64 2.20 28.60 76.90 31.66
10. Austria £14.80 £36.66 £5.73 2.30 39.10 £8.43 £4.86 0.80 45.20 £12.50 £23.46 £25.27 2.40 34.50 £7.86 £8.19 £16.42 1.30 9.40 £17.43 2.10 27.20 102.00 31.08
11. France
£13.81 £35.56 £6.94 2.20 37.00 £8.32 £4.98 0.80 45.40 £11.95 £17.98 £17.90 1.90 5.10 £6.28 £7.46 £16.50 1.20 1.90 £22.50 2.60 64.10 86.70 30.70
12. Canada
£8.01 £30.86 £7.36 2.50 12.50 £7.64 £6.40 1.10 53.30 £9.67 £21.95 £20.36 2.80 14.20 £7.75 £6.41 £15.72 1.60 0.70 £22.93 3.60 67.20 94.30 29.58
13. Denmark
£9.92 £36.45 £7.14 1.00 30.20 £7.06 £3.63 0.30 16.70 £12.68 £23.78 £25.60 1.20 36.40 £9.80 £9.21 £19.81 0.70 30.80 £17.07 1.00 24.50 95.20 27.72
14. Singapore £11.99 £32.76 £6.09 3.70 23.70 £4.77 £4.25 1.00 -1.50 £11.60 £17.30 £14.63 3.10 -4.30 £12.47 £10.05 £22.30 3.20 51.00 £20.64 4.50 50.60 71.10 23.90
15. New Zealand
£8.61 £33.23 £7.44 1.90 19.90 £7.76 £6.30 0.80 53.50 £14.54 £20.21 £26.42 2.40 34.40 £6.90 £8.21 £26.87 1.60 41.50 £9.54 1.10 -30.40 106.40 23.78
16. Australia
£9.21 £31.13 £6.30 1.50 13.50 £8.61 £4.59 0.60 44.20 £11.83 £20.26 £14.33 1.50 2.00 £7.05 £7.97 £20.64 1.20 20.20 £17.66 1.70 28.80 111.50 21.74
17. Netherlands
£10.92 £35.34 £5.61 2.20 26.20 £6.40 £3.25 0.60 5.40 £15.34 £24.48 £26.49 2.80 45.70 £8.01 £6.24 £18.27 1.40 9.60 £14.13 1.80 3.10 85.50 18.00
18. United States
£9.14 £29.50 £5.82 2.60 8.20 £6.77 £3.61 0.90 13.30 £14.55 £18.45 £22.70 3.30 22.40 £7.11 £8.33 £19.44 2.10 17.60 £17.58 3.10 28.20 84.20 17.94
19. United Arab Emirates £7.93 £27.37 £7.86 22.10 5.00 £6.71 £5.39 9.30 32.20 £9.31 £19.18 £18.26 23.90 2.70 - - - - - £14.05 21.60 2.50 73.80 10.60
20. Germany
£8.63 £35.27 £7.04 2.20 23.90 £6.49 £2.42 0.60 -2.60 £10.43 £17.35 £18.00 2.00 0.60 £6.17 £6.29 £15.18 1.20 -6.90 £18.49 2.40 34.80 88.10 9.96
21. Italy £13.35 £34.52 £6.24 4.10 31.60 £6.29 £3.11 1.10 2.70 £8.94 £20.22 £18.46 3.60 4.60 £6.14 £6.21 £12.15 1.80 -17.40 £13.56 3.10 -1.10 90.70 4.08
22. Ireland
£7.86 £32.28 £7.06 1.90 14.80 £6.70 £2.52 0.60 0.70 £9.99 £14.64 £18.37 1.80 -5.50 £6.10 £5.90 £17.13 1.20 -1.80 £14.13 1.70 3.10 87.90 2.26
23. Spain
£8.96 £33.10 £7.06 3.90 19.50 £5.01 £2.71 0.90 -15.70 £10.17 £13.71 £20.96 3.60 -1.50 £4.55 £5.96 £20.31 2.50 3.80 £11.74 2.80 -14.40 97.00 -1.66
24. China
£8.40 £25.77 £4.24 18.90 -6.60 £2.12 £2.92 3.70 -44.90 £2.30 £27.96 £15.21 22.40 -0.10 £11.37 £5.69 £18.76 17.70 20.70 £16.40 24.30 19.60 58.20 -2.26
25. United Kingdom £8.02 £31.09 £5.55 1.90 8.70 £6.78 £2.34 0.60 -0.40 £13.25 £17.03 £18.96 2.10 8.20 £5.03 £5.02 £14.64 1.00 -16.80 £11.65 1.50 -15.00 84.20 -3.06
26. Qatar £8.41 £23.09 £6.24 5.50 -8.20 £5.04 £4.13 2.00 0.20 £6.40 £16.49 £12.21 5.10 -22.90 - - - - - £11.33 5.00 -17.40 90.50 -12.08
27. Argentina £6.29 £17.92 £3.29 4.20 -33.10 £3.98 £3.32 1.70 -20.30 £9.10 £19.58 £21.84 7.60 11.00 £6.24 £7.28 £19.03 4.90 9.70 £9.12 4.10 -33.50 98.30 -13.24
28. Chile £7.08 £17.03 £3.62 6.00 -32.50 £3.95 £2.83 2.20 -25.90 £8.12 £18.16 £17.81 9.50 -3.10 £5.62 £8.18 £13.87 5.90 -6.80 £12.48 8.00 -9.00 74.10 -15.46
29. Slovakia £6.96 £24.10 £4.30 5.80 -14.00 £4.40 £2.17 1.60 -28.30 £13.15 £15.83 £19.10 7.80 5.70 £5.27 £4.40 £9.80 3.20 -34.40 £10.30 5.00 -24.90 60.40 -19.18
30. Czech Republic £7.24 £20.23 £4.33 5.10 -22.70 £4.72 £2.74 1.80 -18.50 £5.88 £18.59 £19.65 7.00 -3.00 £6.08 £4.40 £7.09 2.80 -40.80 £12.18 5.80 -11.20 83.40 -19.24
31. Russian Federation £5.86 £18.12 £2.93 21.80 -34.50 £3.03 £2.65 6.90 -37.90 £9.25 £15.50 £24.58 40.00 8.40 £5.32 £5.85 £11.05 18.00 -25.10 £12.73 30.90 -7.10 69.20 -19.24
32. Greece £0.00 £21.48 £4.94 3.30 -16.90 £5.66 £3.41 1.30 -1.00 £8.74 £15.02 £14.68 3.70 -15.50 £4.60 £5.32 £13.25 2.20 -21.90 £7.81 2.30 -43.00 74.80 -19.66
33. South Africa £5.02 £14.79 £2.60 5.90 -45.50 £4.34 £3.85 3.30 -10.50 £10.29 £21.52 £19.24 13.50 12.20 £5.29 £5.35 £8.62 5.10 -35.10 £10.53 8.40 -23.20 58.60 -20.42
34. Saudi Arabia £7.57 £20.12 £6.15 18.50 -17.70 £4.32 £3.78 6.60 -11.60 £6.98 £16.02 £11.22 18.70 -24.80 - - - - - £9.67 15.80 -29.50 54.40 -20.90
35. Portugal £7.44 £17.15 £4.75 3.10 -28.60 £4.63 £3.14 1.20 -15.20 £4.43 £11.01 £11.62 2.90 -40.50 £5.99 £7.13 £19.90 3.50 11.30 £8.68 2.80 -36.70 93.40 -21.94
36. Lithuania £5.74 £17.13 £3.44 4.70 -36.00 £4.04 £3.17 1.90 -21.30 £6.01 £11.52 £14.10 5.60 -30.50 £5.08 £4.17 £14.08 4.20 -21.40 £11.86 6.30 -13.50 78.20 -24.54
37. Estonia £7.27 £22.18 £4.35 4.60 -17.80 £4.65 £2.26 1.40 -24.40 £6.88 £12.36 £15.33 4.70 -24.00 £6.56 £7.45 £11.02 3.40 -15.60 £7.31 3.00 -46.70 59.60 -25.70
38. Poland
£6.61 £19.82 £3.56 4.40 -27.10 £3.22 £1.68 1.10 -46.50 £8.34 £11.39 £14.11 5.00 -25.60 £2.52 £4.51 £8.16 2.20 -48.80 £14.49 6.40 5.70 76.90 -28.46
39. Bulgaria £5.75 £12.42 £2.85 5.50 -48.90 £4.24 £2.16 2.50 -30.10 £9.04 £14.70 £19.11 11.20 -5.80 £3.56 £3.90 £9.31 4.40 -43.50 £10.39 8.20 -24.20 53.00 -30.50
40. Turkey £10.00 £17.94 £6.05 5.20 -17.30 £2.88 £2.74 1.30 -38.60 £7.67 £12.62 £9.69 4.60 -34.10 - - - - - £9.30 4.30 -32.20 25.30 -30.55
41. Croatia £7.23 £17.78 £3.53 4.60 -30.60 £5.10 £3.17 2.00 -9.70 £5.08 £12.65 £10.74 4.60 -37.50 £4.81 £4.19 £9.54 3.00 -37.50 £7.76 3.80 -43.40 66.30 -31.74
42. Colombia £4.05 £10.22 £2.01 6.00 -60.40 £3.98 £3.06 3.90 -23.10 £7.06 £16.27 £14.57 14.00 -16.70 £5.99 £4.99 £15.29 9.70 -11.40 £5.28 5.90 -61.50 46.50 -34.62
43. Thailand £7.36 £20.44 £4.43 13.10 -21.60 £2.16 £2.08 2.60 -53.70 £5.75 £18.19 £7.77 12.80 -30.30 £3.85 £5.46 £11.38 8.40 -30.30 £7.40 9.00 -46.10 25.80 -36.40
44. Mexico £5.13 £13.65 £2.49 18.60 -48.30 £3.32 £2.47 7.60 -36.80 £5.76 £16.05 £15.43 32.60 -18.20 £4.26 £8.17 £9.50 19.20 -26.10 £6.40 16.80 -53.30 63.80 -36.54
45. Hungary £0.00 £15.58 £2.41 4.00 -40.20 £3.52 £1.59 1.30 -44.10 £3.78 £17.22 £22.62 7.10 -4.20 £2.58 £2.30 £9.64 2.40 -51.00 £7.59 3.70 -44.60 76.00 -36.82
46. Indonesia £6.91 £16.19 £3.31 23.60 -35.80 £2.56 £2.91 7.30 -40.30 £6.74 £19.19 £6.92 29.40 -27.80 - - - - - £7.10 19.10 -48.20 11.60 -38.03
47. Vietnam
£8.11 £17.97 £3.69 20.00 -27.60 £3.06 £2.19 5.30 -42.60 £3.01 £13.21 £8.23 16.40 -46.30 £2.99 £6.83 £8.71 12.40 -37.60 £7.82 15.70 -43.00 -39.40 -39.42
48. Egypt £5.38 £10.32 £3.02 20.10 -54.50 £2.83 £1.97 7.70 -47.60 £6.31 £19.49 £15.43 44.20 -9.40 - - - - - £7.31 23.50 -46.70 25.60 -39.55
49. Brazil
£5.83 £10.68 £3.15 5.50 -52.20 £2.75 £2.15 2.10 -46.50 £8.39 £20.05 £21.87 14.10 10.60 £3.37 £4.34 £3.86 3.20 -61.00 £6.42 5.40 -53.20 85.30 -40.46
50. India
£3.63 £10.50 £1.79 22.80 -61.30 £2.50 £2.40 10.50 -46.50 £5.05 £9.01 £8.41 32.10 -50.60 £3.96 £4.80 £18.76 39.40 -7.20 £7.44 32.00 -45.70 4.40 -42.26
51. Malaysia £4.41 £11.92 £1.95 8.40 -55.50 £2.18 £2.17 3.00 -52.50 £7.03 £12.79 £5.94 11.90 -43.40 - - - - - £6.88 9.50 -49.80 52.30 -50.30
52. Ukraine £2.84 £10.84 £2.98 10.80 -59.50 £2.03 £1.46 3.40 -61.90 £5.36 £12.21 £11.91 19.10 -35.20 £3.19 £3.87 £6.55 8.80 -54.10 £6.73 13.10 -50.90 48.50 -52.32
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Methodology


The Meat Price Index is divided into five separate categories: beef, chicken, seafood, pork, and lamb. All prices were collected from national grocery outlets at full price without discount. For each category, prices for specific cuts of meat contributed to an overall value, the overall per kilogram price for beef, PKPi. This per kilogram price, PKPi , was divided by each country’s minimum wage1 MWi to indicate how long a minimum wage employee must work for each type of meat, Hoursi :

Finally, countries are indexed based on the average cost of meat by country xi, and ranked according to the percentage deviation of the local price Devi from the world’s average (mean) μ:

A negative value of Devi represents the percentile deviation below the world’s mean, whereas a positive value of Devi represents a positive deviation of the mean. E.g., 145% implies that the PKP of the country is 145% more expensive than the world’s average.

Category Specifications


Beef

Leg Round – 1kg back leg meat,
Tenderloin – 1kg tenderloin meat,
Mince – 1kg minced beef, 10-20% fat.

Chicken

Breast – 1kg breast filet,
Leg – 1kg leg or thigh quarter

Pork*

Chop – 1kg bone-out chop cut,
Sausage – 1kg ground pork sausage, uncooked,
Ham – 1kg large baked, smoked, or honeyed bone-in ham.*Pork is banned in many countries due to religious reasons. Some specialty stores may still sell this type of meat, but as it is not widely available, pork was not included in the rankings of certain countries. In this case, the absence of pork prices did not affect the country’s overall standing in the Index.

Seafood*

White Fish – 1kg tilapia, cod, or pangasius filet,
Salmon – 1kg salmon steak or filet, with or without skin,
Shrimp – 1kg average shrimp prices based on market availability by variety (e.g. whiteleg shrimp, coral shrimp, tiger prawn) in each country. Raw and unpeeled when available.*For countries in which fresh seafood may not be available, average prices were based on frozen products.
*Shrimp is not widely sold in Israel and thus, was not included in the ranking. In this case, the absence of shrimp prices did not affect the country’s overall standing in the Index.

Lamb

Chop – 1kg chop or loin chop cut, according to availability.

Meat Consumption

The average meat consumption, measured in kilograms per person, according to a study on per capita meat carcass mass availability by the Food and Agriculture Organization.

All meat and fish prices reported per kilogram for non-organic products. Data accurate on 15 July 2017, with currency conversions from Bloomberg Markets.

The federal hourly minimum wage by country was used to calculate the working hours needed to purchase each type of meat. If the country has no federal minimum wage, as in the case of Finland or Singapore, prices reflect an average salary for a job in general or unskilled labor. For more information, please contact pablo@abcd.agency