Smithfield Foods: Consumers still purchasing high priced pork
This year has seen the price of pork meat increasing to much higher, however, despite the price hike consumers are still purchasing pork meat and there have been no signs of purchases becoming less.
According to Smithfield Foods, pork purchases at grocery stores and in restaurants are still maintaining its levels.
“At this point we have not seen a dramatic amount of consumer fatigue due to pricing,” stated Bo Manly, Smithfield Foods’s chief financial officer.
He also pointed out that if pork prices continue to increase, at a later period it could relay to consumers reacting negatively.