Beef mince prices reach record highs amid strong export demand

Beef mince prices have reached record levels, with average retail prices in New Zealand climbing to over $24 per kilogram. This represents a more than 30% increase compared to early 2024, when prices averaged approximately $18 per kilogram.

Rabobank senior animal protein analyst Jen Corkran attributes this upward trend to strong international demand for trim beef, particularly from the United States. Because of this export demand, analysts do not expect retail prices to ease in the near future.

The rising cost of beef mince contrasts with the pricing of other proteins; chicken breast and pork loin chops have remained relatively flat, with chicken breast currently averaging $14.80 per kilogram. While demand has remained steady thus far, there are concerns that retailers and foodservice providers may be pushing prices toward the limit of consumer tolerance.