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The wholesale cost of a UK Christmas dinner has dropped by 1 per cent compared to last year.
While prices for some vegetables have increased – onions are up by 26 per cent – this has been offset by the almost unchanged cost of turkey (up 1 per cent) and a significant drop in the price of pork (down 13 per cent), according to Mintec.
Carrot, parsnip and onion prices have all gone up by an average of 10 per cent due to hot weather conditions during the growing season across Europe, which reduced harvests.
Pork prices have fallen due to factors including the Russian ban on EU pork, more export competition from the EU and higher production figures.
“As meat is the largest proportion of the meal, it exerts more influence on the index than the vegetables. Consequently, the index has fallen by just 1 per cent year on year,” said Mintec.
However, increasing prices for cocoa powder and cocoa butter have pushed the cost of milk chocolate up by 7 per cent.