What’s behind B.C.’s surging beef prices?

By Daisy Xiong – BIV

For those who regularly buy beef, the steady price climb over the past few years has likely been hard to miss.

Beef prices have risen much faster than those of other proteins and well above B.C.’s overall inflation rate. According to Statistics Canada, beef striploin averaged $35.11 per kilogram in August, up 10.7 per cent from a year earlier and nearly 30 per cent compared with August 2023. Prices peaked at $47.53 per kilogram in April.

Other beef products have seen similar double-digit increases annually. Beef rib cuts reached $36.40 per kilogram in August, up 15 per cent year over year. Top sirloin rose to $28.57, an 18.6 per cent jump. Ground beef climbed to $16.07, marking a 14.4 per cent annual increase and a 44 per cent rise compared with two years ago.