This year’s Christmas dinner will be the cheapest since 2011 – thanks partly to President Putin and democracy protesters in Hong Kong.
Families will pay an average 1% less for a turkey dinner this festive season after a slump in the prices of pork and potatoes on the commodity markets, according to experts at Mintec.
The price of British pork – vital for stuffing and Christmas garnishes such as pigs in blankets – is 13% down on this time last year, its lowest level since May 2008, as a Russian ban on imports led to prices falling across Europe, putting pressure on British farmers who have had to cut their own prices to stay competitive. Prices have also been hit by lower demand from Hong Kong importers – where protests and government crackdowns have led to economic problems.
Potato prices are 8% lower than last year as a result of warm weather in the early autumn.
Christmas crackers should also be cheaper as a result of falling prices for virgin pulp and recovered paper – important elements in Christmas crackers. Both have been on a downward trend in 2015 with virgin pulp prices down by 11% and recovered by 4% year on year.
The price declines in those key elements of Christmas more than offset price rises elsewhere on the festive table.
There’s particularly bad news for chocoholics: the price of chocolate is up as a result of cocoa powder and cocoa butter prices rising 30% and 11% respectively. Mintec says lower production in the main growing regions, as well as weather problems delaying the current harvest, have contributed to the price increases.
Turkeys – the centrepiece of most Christmas dinners – are also about 1% more expensive than last year, because of high demand.
Average prices for carrots, onions and parsnips have risen by an average 10%, according to Mintec. It doesn’t include brussels sprouts in its Christmas dinner price survey, but points out prices are up 7% compared to last year as farmers have reduced the amount of space they devote to the green vegetables.
Mintec’s analysis runs counter to the claims of supermarkets, which say they have been cutting the price of fresh fruit and vegetables as they try and fight off competition from discounters Aldi and Lidl. The two German chains have dramatically increased the amount of fresh food they offer, leading to price wars on basics such as cucumbers, where the average price is now less than 50p compared to up to 90p a few years ago.
There have also been recent reports of a bumper sprout harvest in the UK – as the unusually warm autumn weather has made them bigger than ever.
