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"What's that got to do with the price of eggs?" is a rhetorical question to point out an irrelevant statement. But as it turns out, everything has to do with the price of eggs. Not only are eggs a basic foodstuff for all consumers, but they were (until recently) a cheap source of complete protein and a foundational ingredient for the entire catering industry. The price of eggs, therefore, has an influence on the price of many other things.
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When the mid-year outbreak of Avian Influenza hit South Africa, the first casualty was the local egg-producing industry. Eggs became unavailable and prices skyrocketed. It did not help that political instability and climate change were also impacting on food security - not only in South Africa but around the world.
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In this country, several foodstuffs increased by more than 20% over the year. Potatoes and eggs almost doubled, butternut went up by almost 50%, rice, oranges, apples, tomatoes, bananas and chicken livers increased sharply. The reasons for these price fluctuations are fascinating, and involve governance, policy, international trade, droughts and floods, tariffs and rebates - even piracy and war.
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For this reason, Chicken Facts is going to make 2024 the Year of the Food Basket Barometer. We will be tracking the prices of basic foodstuffs and interviewing agriculturalists and economists about why prices increase the way they do.
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Our agricultural sector is sound, but policy decisions can make the life of the farmer easier or more difficult. We are hoping that by highlighting the dynamics behind food prices, we can inform consumers to make smart choices and persuade policymakers to try a different approach.
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Food security is, quite literally, crucial to the health of a nation. Rising food costs that make essential foods unaffordable to a large segment of the population undermine the very foundation of a state. Getting insights into the costs of basic foods and the dynamics that influence these costs can assist all roleplayers in the food supply chain to make informed decisions.
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Poultry, of course, will feature significantly as chicken is still our most affordable protein and poultry products play a very large role in affordable food security.
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Our regular features, such as our Poultry Analysis, our Insider perspectives, our podcasts and Fact Sheets will return, hopefully with a number of different voices and perspectives.
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Food Basket Barometer - Price Comparisons
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For our lowest-income consumers, protein is the most essential, and invariably the most expensive, part of the food basket.
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Poultry Analysis 9 January 2024
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Every new year is a chance for a re-set, even if the problems remain the same.
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Our introductory article on the Basic Food Basket, showing how food inflation is higher than CPI.
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