Price of meat in freefall during COVID-19 recession
Families are turning their backs on traditional supermarkets and switching to bulk buying meat as they tighten their belts amid high unemployment and uncertain economic conditions.
M and A butchery in Wilberforce in Sydney's far north west has recorded a spike in new customers who want to buy high quality meat in bulk because of lower prices.
A 1kg Scotch fillet which sells in supermarkets for $45 can be had for only $35 at the butchery, 1kg of rump steak which sells for $24 at the big chain stores is only $13.99, while 1kg of eye fillet is $45 compared to $56 elsewhere.
Phil Diasinos said their family's business was the only one in Sydney which has an abattoir on site meaning they kept prices to a minimum, luring customers from all over Sydney, The Blue Mountains and as far west as Orange.
"We have seen a change in the trends of what people buy, we are selling a lot more bulk cuts, a lot more hind quarters, a lot more forequarters, whole lambs," Mr Diasinos said.
"People are trying to minimise the amount they are spending, saving money by buying bigger volumes at once and sharing with other families.
"They're staying home and still eating good food but without the higher price tag.
"A lot of people have lost their jobs, they're on Jobkeeper and Jobseeker, they're watching their money and they're not eating out as much."
Social researcher Mark McCrindle said after the panic buying episodes earlier in the year people had more capacity to store items in bulk and were concerned about their family's finances.
"One million Australians are now not working who were working at the start of March," he said.
"What we have seen apart from the headline unemployment is under employment, which is Australians working less than they otherwise would.
"It is nine day fortnites, no over time, while others have been more impacted by bigger cuts in hours.
"(And) not having that extra job, that was what was sustaining Australians to get ahead with their mortgage or just their lifestyle."
Originally published as Price of meat in freefall during COVID-19 recession