Australia: Loads of oranges dumped as food prices skyrocket

Published Oct 6, 2022

Tridge summary

Inflation in Australia reached 6.8% in the 12 months to August, with food and beverages playing a significant role in the increase, especially fruit and vegetables which saw a rise of 18.6% in just two months. This has led to an affordability crisis and an increase in the dumping of produce by growers. Household budgets are under strain as groceries, a major expense, are expected to become even more costly due to ongoing global economic factors.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Australian inflation figures released last week show that the cost of living rose by 6.8 percent in the 12 months to August. The cost of food and beverages was a major contributor to that figure, with fruit and vegetables in particular driving the increase: from 9.1 percent in June to 18.6 percent in August. That means that the cost of fresh fruit and vegetables is too high for many. And this in turn has resulted in Australian growers dumping lots of oranges that couldn't be sold on the market. Household budgets have come under increasing pressure in the past year due to rising inflation. Comparison website Finder found last month that groceries are the second largest expense for Australian families. Finder ...

Source: AGF