News

USA: Proposition 12 increases the price of pork in California by 20%.

Pork Fat
Regulation & Compliances
Market & Price Trends
Published Apr 12, 2024

Tridge summary

Since the partial implementation of Proposition 12 (Prop 12) on July 1, 2023, California has seen a notable increase in pork prices, with an average rise of 20% for affected pork products, according to preliminary data from the Giannini Foundation for Agricultural Economics at the University of California. The most significant price jump was observed in pork loin, which surged by 41%. This price hike is attributed to Prop 12, which will be fully implemented by January 1, 2024. Despite these increases, products not covered by Prop 12 have not experienced significant price changes. The long-term effects on pork retail prices in California are still uncertain, and the state's share of national fresh pork consumption has dropped from 10% to 8% since January 2024.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

It is likely that California consumers will have noticed higher prices for pork in supermarkets starting July 1, 2023. This is due to the effects of California's new law, Proposition 12 (Prop 12), which was partially implemented on July 1, 2023 and fully implemented on January 1, 2024. According to the Giannini Foundation for Agricultural Economics at the University of California, preliminary data indicates that pork prices for California products affected by this new policy have increased, on average, 20% after July 1, 2023. This increase varies depending on the product, with pork loin being the one that suffered the biggest impact, with a price increase of 41%. As expected, products not covered by Proposition 12 did not experience a significant change in price. Although there were significant impacts following partial implementation and the first month of full implementation, there is still uncertainty regarding the long-term effect ...
Source: 3tres3
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