Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Tomato and bacon prices streak ahead

Higher fruit and vegetable prices, as well as rising prices for meat, were key factors pushing overall food prices up 0.7 percent in August, Stats NZ said today.

Tomato prices rose to nearly $10 per kilogram in August, jumping over $3 per kilogram in price. At the same time, bacon prices rose to record levels this month.

“August is typically the most expensive time of the year to buy tomatoes, and last month was no excep-tion, with prices up 51 percent from July this year,” consumer prices manager Sarah Johnson said.

The weighted average price of 1 kilogram of tomatoes was $9.96 in August 2019, compared with $6.59 in July.

“However, the high levels in August this year are slightly lower than the $10.45 per kilo seen in August 2018,” Mrs Johnson said.

“In 2011, the peak in tomato prices was more than $13 per kilo, but there has been a downward trend in these winter peaks since that time.”

The cheapest time of year to buy tomatoes is typically mid-summer when they sell for less than $3 per kilogram.

Seasonal falls in strawberry prices (down 23 percent) and nectarines (down 13 percent) contributed to a fall in fruit prices, down 3.0 percent.

August also saw a number of record high prices for meat, especially bacon and beef mince.

Bacon was up 11 percent in August to a new record price of $12.96 for 700 grams (weighted average price). This compared with $11.66 last month, and $10.57 in August 2018.

“We import a lot of our bacon, so prices are very dependent on the global market,” Mrs Johnson said.

“There is currently a worldwide shortage of pork, following the outbreak of African swine fever, and this is impacting our prices.”

Ham also reached its highest price since 2015. The weighted average price of 1 kilogram of ham was $13.67 in August 2019, compared with $12.18 in July, and $11.77 in August 2018.

Beef mince reached a record high with a weighted average price of $16.21, compared with $15.39 in July, and $14.35 in August 2018.

“Increased demand from China has pushed up prices for New Zealand beef,” Mrs Johnson said.

“When export prices rise overseas, we often see it reflected on the shelf here, too.”

Soft drinks also reached record highs, with a 1.5-litre bottle reaching a weighted average price of $2.78, compared with $2.61 in July, and $2.57 in August 2018. This contributed to the 0.3 percent increase in the price of non-alcoholic beverages.

Annually, food prices rose 2.1 percent. This increase was driven by a rise in meat, poultry, and fish, up 8 percent.

© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY Law: Government Exempts Some Home Improvements From Costly Consents

Homeowners, builders and DIYers will soon have an easier time making basic home improvements as the Government scraps the need for consents for low-risk building work such as sleep-outs, sheds and carports – allowing the construction sector ... More>>


Media Awards: The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards

The New Zealand Herald has been labelled a “powerhouse news operation” as it claims the two biggest prizes – Newspaper of the Year and Website of the Year – along with many individual awards at the 2020 Voyager Media Awards Website of the ... More>>


ASB Bank: ASB Takes The Lead Again With New Low Home Loan Interest Rate

ASB has moved again to support its customers, cutting a number of home loan rates, including the two-year special rate to a new low of 2.69% p.a. Craig Sims, ASB executive general manager Retail Banking says the reduced rate will be welcome news for many ... More>>


Nathan Hoturoa Gray: The Problems With Testing And Case Statistics For Covid-19

To begin to understand disease transmission in a country requires adequate testing of your population with properly vetted, accurate tests. As the world struggles to find what 'adequate percentage' of the population is necessary, (estimates predict ... More>>


RNZ: Fletcher Building To Lay Off 1000 Staff In New Zealand

The construction company will cut around 10 percent of its workforce as it struggles with the fallout from Covid-19. More>>


Can Pay, Won't Pay: Cashflow Moves Urged

Government Ministers are asking significant private enterprises to adopt prompt payment practices in line with the state sector, as a way to improve cashflow for small businesses. More>>


Gordon Campbell: On Why We Should Legally Protect The Right To Work From Home

For understandable reasons, the media messaging around Level Two has been all about “freedom” and “celebration”, but this is not necessarily going to be a universal experience. When it comes to workplace relations, Level Two is just as likely to ... More>>


Telecoms: Spark Welcomes Spectrum Allocation And Prepares For 5G Rollout Over The Next 12 Months

Spark welcomes spectrum allocation and prepares for 5G rollout over the next 12 months Spark today welcomed the announcement of the direct allocation process of 5G spectrum, with the Company to be offered management rights to 60 MHz of 3.5 GHz ... More>>


Trade: Record Monthly Surplus As Imports Dive

Imports in April 2020 had their biggest fall since October 2009, resulting in a monthly trade surplus of $1.3 billion, Stats NZ said today. “This is the largest monthly trade surplus on record and the annual goods trade deficit is the lowest ... More>>


Media Blues: Stuff Chief Executive Buys Company For $1

Stuff chief executive Sinead Boucher has purchased Stuff from its Australian owners Nine Entertainment for $1.
The chief executive was returning the company to New Zealand ownership, with the sale is expected to be completed by 31 May.
"Our plan is to transition the ownership of Stuff to give staff a direct stake in the business as shareholders," Boucher said in a statement.... More>>


RNZ: Bar Reopening Night 'much, Much Quieter'

Pubs and bars are reporting a sluggish first day back after the lockdown, with the fear of going out, or perhaps the joy of staying home, thought to be a reason for the low numbers. More>>


Stats NZ: New Zealand’s Population Passes 5 Million

New Zealand's resident population provisionally reached 5 million in March 2020, Stats NZ said today. More>>

NIWA: Seven Weeks Of Clearing The Air Provides Huge Benefits: Scientist

Seven weeks of lockdown has provided evidence of how pollution can vanish overnight with benefits for the environment and individuals, says NIWA air quality scientist Dr Ian Longley. Dr Longley has been monitoring air quality in Auckland, Wellington ... More>>


Government: Milestone In Cash Flow Support To SMEs

A significant package of tax reforms will be pushed through all stages in Parliament today to throw a cash flow lifeline to small businesses. More>>


University Of Canterbury: Astronomers Discover The Science Behind Star Bursts That Light Up The Sky

University of Canterbury (UC) astronomers are part of an international team that has revealed how explosions on the surface of a white dwarf star can increase its brightness by thousands or millions of times making it look like a new star. For ... More>>

Air NZ: Air New Zealand Adds Business-timed Flights For Regions

Air New Zealand will operate business-timed flights in and out of a number of regional ports from next month.
The flights will allow customers in Hamilton, Tauranga, Napier, New Plymouth, Palmerston North, Nelson, Dunedin and Invercargill to undertake a day of business in either Auckland, Wellington or Christchurch... More>>