The business advisory firm has found that animal feed costs are close to doubling, driven by rising wheat prices.
Deloitte food and agriculture partner Richard Crane says: “UK shoppers will have to pay more for their meat. Increased prices will allow farmers to meet the increasing demand for local, high quality meat.”
Deloitte reports that the isolated foot-and-mouth outbreak “could leave permanent” scars on the industry, following earlier crises over this summer floods, which have decimated agriculture in certain pockets of the country, and bird flu.
Crane said: “A combination of factors is threatening the survival of the UK livestock industry. Looking ahead production is unlikely to be viable without price rises.”
Globally, consumers can also expect to pay more for bread, as wheat prices surged to a new record on the benchmark Chicago Board of Trade market in the US last week