The £5.30 orange juice that tells the story of why supermarket prices are sky high
https://www.bbc.co.uk/news/articles/c397n3jl3z8o
Posted by Tartan_Samurai
The £5.30 orange juice that tells the story of why supermarket prices are sky high
https://www.bbc.co.uk/news/articles/c397n3jl3z8o
Posted by Tartan_Samurai
11 Comments
The entire article never mentions energy prices once. Electricity, diesel and petrochemicals are all up at rates above inflation and they don’t even get a mention?
Very interesting.
One thing it omits that is not specific to orange juice, is that supermarket costs have gone up as well: electricity is more expensive, and staff costs have gone up following rises in employers national insurance, the minimum wage and compulsory pension contributions.
Tesco profits of over £3 billion represents a 10 %year on year increase.
More nonsense from the BBC, the orange juice was purchased from a restaurant.
imagine if every item was priced as X of Minimum Wage instead of this constantly rising inflation
I talk to people or different generations and they have absolutely no idea what £20 is worth these days
Maybe we need some sort of dynamic pricing that is fixed so everything makes sense elsewhere we will one day pay £100 for a glass of orange juice
The article touches on it with Brazil controlling the orange market, but this is the flip side of globalisation. When it began, countries like Brazil or China totally relied on western market access. Now the rest of the world has become richer, while Europe has stayed the same, so we compete against the entire globe for these products now. We’ve run out of nations that will accept being effectively little more than plantations for coffee, chocolate, orange juice, etc. on the cheap as they’ve become rich enough to become picky with who they sell to and their prices.
The article has an error in my view. Most of the UKs current inflation isn’t in tradable goods (which orange juice is, as a commodity), which are things we typically import, it’s in non-tradedable goods which are things we produce in the UK like housing, electricity, food services (restaurants, takeaways), personal services (healthcare, hair, nails etc.)
To a large extent commodity prices, including orange juice, have returned to historically normal levels:
https://tradingeconomics.com/commodity/orange-juice
> Only five years ago, a typical supermarket own-label carton of orange juice could be bought for 76p for 1 litre. It now costs £1.79.
https://www.tesco.com/groceries/en-GB/products/299914924
£0.89
ALDI price match, so they will be the same.
Do these journalists go out of their way to pick the most expensive supermarkets and not bother to do any fact checking?
For years fierce competition among UK supermarkets has kept prices low. While prices are increasing, there are still deals to be had. The chart in the article for example is based on Tesco, Sainsburys, ASDA and Morrisons, ignoring Lidl and Aldi which are typically cheaper and increasingly popular.
It’s probably for the best. juice is really bad for you.
Not to point out the obvious but low yields due to poor weather every year for five years that are only comparable to one summer nearly forty years ago suggests climate change is having a material effect on global cost of living.