“We’ve worked very hard but clearly this is still a problem.” These are the words of Jim Snee, CEO of Hormel, the second largest supplier of turkeys in the United States, referring to the current crisis in the sector due expressly to two factors: the flu, which has killed 44 million birds, including 4 .5 million turkeys; and the highest inflation in 40 years.
These two causes will cause Thanksgiving, which will be celebrated on November 24, to cost more due to the dwindling supply of turkey. Specifically, 2022 turkey production is expected to decline by more than 4%, and wholesale prices are expected to rise 23% more than last year, according to Forbes.
Meat has been one of the categories “most severely” affected by inflation. Specifically, meat prices increased an average of 12%, while turkey prices reached 14%, according to NielsenIQ data. In this sense, the average price of each turkey (2.2 kilos) in supermarkets and in retail stores is now 13% higher compared to 2021.
With the increase in turkey prices, it could lead to a decrease in consumption during the holidays. In this sense, “shoppers can buy their turkey earlier if it is on sale or look for stores with the lowest prices. Some shoppers will also look for more affordable alternatives, such as chicken or turkey breast, instead of the whole turkey,” says Carman Allison. , vice president of NielsenIQ.
As some experts point out, one solution could be to replace traditional turkey with spiral ham, both with an increase of 14% and 10%, respectively. As an anti-crisis measure, the American Turkey Federation indicated that high prices will be softened by discounts that stores will use to attract holiday shoppers, even if retailers lose turkey sales.
Why is turkey eaten on Thanksgiving?
Thanksgiving is the time when many American families gather around a table to show appreciation for all the good things that have happened in recent months. It was officially proclaimed by President Lincoln in 1863 to be celebrated on the last Thursday of November. In 1941 it was officially declared by the United States Congress as a public holiday.
The main protagonist is the turkey, and it is eaten mainly because this product was large enough to feed large families and that nothing was missing. Other countries like Canada, Germany or Japan also celebrate it, even if they are called differently.
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