According to the UBS Food & Beverage price tracker, which released its first report in October, the prices of dairy, meat, vegetables, and fruit increased by 9 percent during the year.

The pricing monitor is focused on the prices of various food products in Australia. It measures weekly changes in these categories.

UBS said that the prices of dairy-based products have increased significantly. He noted that the rise in farmgate milk prices has also led to higher meat prices.

Although the prices of various food products increased by 9 percent in October, they fell by 2 percent compared to September.

In October, the prices of fresh produce were up 35 percent since July. Among the main factors that contributed to this increase were mushrooms, which gained 4 percent, and tomatoes, which were up 10 percent. However, according to data from UBS, citrus prices were only up by 1 percent.

These prices have impacted stores such as Maggie Beer. However you can still save on  your purchase at Maggie Beer by use a Maggie Beer coupon here.

In October, the prices of key dairy products such as cheese and butter increased by 21 percent and 13 percent, respectively. On the other hand, meat prices were up 18 percent.

Many companies have had to increase their prices due to the high costs of raw materials.

Despite the various bottlenecks in the logistics industry, the export prices of dairy products have started to fall. This suggests that the farmgate milk prices may be lower in 2024.

The year to date of Costa Group has been mixed. During a recent conference held by UBS Costa said that the company would focus on improving its returns from citrus in 2023.

Some of the company’s takeouts during the conference included positive outlooks for the upcoming China berry season and the easing supply chain constraints. Costa is also monitoring the impact of COVID lockdowns on the country’s avocado business.

At its annual meeting, Inghams, a chicken producer, provided a positive trading update. The company noted that its earnings recovery has continued into the new year following the COVID-19 pandemic in 2022. The company’s earnings recovery has been largely attributed to the normalisation of its operations and the implementation of price increases.