Online catering marketplace, Caterwings, have conducted a study regarding the global price of basic food items, as preliminary research ahead of their expansion into foreign markets.
The research highlighted in particular that the cost of meat around the world is remarkably varied. To share these insights, Caterwings have released the 2017 Meat Price Index, which details the cost of meat in over 50 countries worldwide.
The study revealed that Switzerland has the highest meat prices, at 141.9 per cent more expensive than the average cost worldwide, followed by Norway (63.7 per cent more expensive) and Hong Kong (61 per cent more expensive), while Ukraine has the least expensive meat prices, at 52.3 per cent less expensive than the average cost, closely followed by Malaysia (50.3 per cent less expensive).
To give some perspective to the data, the affordability of meat in each country was calculated to reveal the relative number of hours a person on minimum wage must work to buy each type of meat. The findings confirmed that not only does the price of meat vary massively from country to country, but there is also an enormous disparity in its accessibility for people all around the world.
To create the Index, Caterwings looked at the top meat producing and consuming countries around the world focusing on beef, chicken, seafood, pork and lamb. After reviewing hundreds of food retailers, the data was compiled by analysing meat prices in these countries’ top cities, which needed to account for at least 25 per cent of the total population. The Index is then ranked by the deviation percentage—this shows how comparatively affordable or expensive each meat type is in each country, in comparison to the global average cost.
"What began as a simple catering cost price Index for market research has raised some important questions," commented Caterwings Managing Director, Susannah Belcher. "It is clear that international inequality exists, and as the world begins to rethink the implications of globalisation, this study clearly demonstrates that food prices ought to be on the agenda."