An Australian farmer discovered that Australian beef is cheaper in Japan than in our local supermarkets.
Andrew Dunlop was visiting the country from New South Wales when he came across the cheaper product at a discount retailer.
According to the Australian Beef Industry Association, a kilogram of beef in Tokyo costs about $18.35.
On the other hand, a similar item costs around $20 at home.
A thin-sliced beef stir fry costs about $20 in Japan and up to $25 in Australia.
A rump steak costs almost $30 in both countries.
Dunlop noted that the prices were more concerning than the quality of the meat.
According to Coles, the prices were not fair. They compared the price of a high-end car with that of an entry-level model.
Matt Swindells, the chief operating officer of Coles, noted that the retail prices of a car are completely different in both countries.
Despite the increasing importance of value, the beef industry noted that the prices in Australia are still unclear.
This is because the country’s supermarkets don’t have the necessary information to provide accurate prices.
This has resulted in neither the consumer nor the producer getting a good deal
. The country’s competition watchdog is currently investigating the practices of the major supermarkets.
They have denied claims of price-gouging and blamed the increases on food inflation.