Business

Why Aussie consumers could soon be paying DOUBLE for beef

Published

8 months ago

April 2, 2025

Australian consumers could end up paying more than $50 a kilo for steak as a result of Donald Trump 's tariffs on agriculture exports, farmers say (pictured is a Coles supermarket)

Small-scale farmers warning of $56/kg rump steaks
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Australian consumers could end up paying more than $50 a kilo for steak at the supermarket as a result of Donald Trump‘s tariffs on agriculture exports, farmers say.

A kilogram of rump steak at Woolworths is now selling for $28.

But the Australian Food Sovereignty Alliance, representing 350 small-scale farmers, fears rump steak will end of costing Australian consumers $56 at the supermarket.

Spokeswoman Tammi Jonas, an organic beef cattle producer from Daylesford in Victoria, said the American tariffs on agricultural imports would see more countries buy Australian beef to avoid trading with the US.

‘We already know there’s high demand for Australian beef around the world and I think that’s just going to get higher,’ she told Daily Mail Australia.

‘In a global supply crunch like this, we could see rump steak climb past $50 per kilogram.

‘That’s not a family dinner – that’s a premium luxury.’

Dr Jonas said higher export prices would see less Australian meat sold to domestic consumers.

Australian consumers could end up paying more than $50 a kilo for steak as a result of Donald Trump ‘s tariffs on agriculture exports, farmers say (pictured is a Coles supermarket)

‘I would say there’s a strong likelihood of that, yes,’ she said.

‘And even if we still have enough beef sold within Australia, the prices are certain to go up.

‘Whenever you’re in those global markets, you roll with the volatility and if they can get a really high price overseas, they’re not going to charge less for domestic sales.’

But Angus Gidley-Baird, a senior analyst in animal protein with RaboResearch, said more expensive steak at the supermarket was unlikely, given the strong supply of Australian beef with the recent rainfall.

‘We produced record volumes of beef last year, I don’t see why there would be a shortage in the domestic market that would cause prices to rise,’ he told Daily Mail Australia.

‘The exports are effectively our markets that we sell the additional production into.’

Meat and Livestock Australia data showed the US was Australia’s biggest market for beef exports in 2024, putting it well ahead of Japan, South Korea and China.

Of the beef sent to the United States, 96 per cent of it was the leaner, grass fed variety that was either chilled or frozen.

The Australian Food Sovereignty Alliance fears rump steak will end of costing Australian consumers $56 at the supermarket. Spokeswoman Tammi Jonas (left) said the American tariffs on agricultural imports would see more countries buy Australian beef to avoid trading with the US

The Americans have been in the grip of a drought, and most of their beef is fattier, grain-fed.

South American beef exporters Argentina and Brazil are also dealing with a lack of rainfall, which means demand for Australian beef would continue to be strong.

Mr Gidley-Baird said the Americans, who produced fattier, grain-fed beef, would still need the leaner, Australian grass-fed beef to make hamburger patties, regardless of import tariffs.

‘The US still continues to need imported product because they’re not producing as much themselves,’ he said.

‘They’ll still need Australian beef – the drought, it’s getting better in the US but they’ve liquidated their herd and production volumes are down.

‘What Australia sends to the US complements their production system over there in that it balances out the fatter product they’re producing for hamburger production.

‘They need the product and we’re one of the biggest suppliers of it – me being rational would still say that they would still buy it.’

At the margins, strong American demand for grass-fed beef had pushed up prices for Australian lean mince, now selling for $15.50 a kilo at Woolworths.

The Trump Administration’s tariffs of up to 25 per cent on agricultural imports are coming into affect on Thursday, along with tariffs on pharmaceutical products (President Donald Trump is pictured in the White House)

‘The US market has been very strong – it’s demanding a fair amount of product which is putting a bit of pressure on mince prices, lean product prices,’ Mr Gidley-Baird said.

The Australian Food Sovereignty Alliance sees mince prices more than doubling to $36 a kilo.

But Dr Jonas predicted possible tariffs of up to 25 per cent on Australian beef would see American demand plunge, despite the fact they are in drought with an undersupply of grass-fed beef.

‘I think with a 25 per cent tariff they won’t be able to afford it – Americans are in as big a cost-of-living crisis as Australians are and they can’t handle a 25 per cent tariff on top of the higher meat price of imported Australian beef,’ she said.

The Australian Food Sovereignty Alliance didn’t do specific economic modelling on Australian beef prices, as a result of the Trump tariffs on agriculture coming into effect on Thursday.

But it argued China’s African swine flu in 2019 led to a doubling of pork prices, as supply fell by 40 per cent.

The alliance campaigns against agribusiness giants like JBS Foods Australia, which owns feedlots and abattoirs.

‘The local farmers like us are losing access to the facilities to slaughter,’ Dr Jonas said.

‘While that sounds like a good thing for Australia – when we think, “We can export more” – the reality of that is very few people profit from that higher export.’

The Trump Administration’s tariffs of up to 25 per cent on agricultural imports are coming into effect on Thursday, along with tariffs on pharmaceutical products.

‘If it’s a large tariff but applied to everyone, our competitive position remains the same,’ Mr Gidley-Baird said.

They follow 25 per cent tariffs on steel and aluminium, introduced on March 12.

Business

Fabergé egg given as Easter gift to mother of Russia’s last emperor sells for record £22.9m

Published

2 days ago

December 3, 2025

Ekwutos Blog

A diamond-encrusted Fabergé egg that Russia‘s last emperor gave to his mother as an Easter gift has sold for nearly £23million.

Tsar Nicholas II gifted the Winter Egg to Dowager Empress Maria Feodorovna in 1913, five years before he was murdered along with his wife and children after the Russian Revolution.

Tsar Nicholas II

Dowager Empress Maria Feodorovna

The egg went under the hammer at Londonauction house Christie’s yesterday.

An unnamed buyer stumped up £22,895,000, smashing the previous global record of £8.9million that was set in 2007 when the famous Rothschild Egg was sold.

Carved from delicate rock crystal, the Winter Egg is an icy-looking orb studded with around 4,500 rose-cut diamonds, and stands at only five-and-a-half inches (14 centimetres) tall.

Carl Fabergé, the master jeweller whose creations bedazzled Russia, created 50 Imperial Easter Eggs for the then-ruling Romanov family over a 31-year period, making them incredibly rare and valuable.

They were commissioned as Easter gifts in a tradition started by Tsar Alexander III in the 1880s.

Nicholas II, Alexander’s son, had an annual standing order for two Easter eggs to be made for his mother and his wife, until the fall of the Romanovs in the 1917 Russian Revolution.

A diamond-encrusted Fabergé egg that Russia ‘s last emperor gave to his mother as an Easter gift has sold for nearly £23million

Today, only 43 of the Imperial Easter Eggs remain, with seven missing.

The ‘exquisite’ Winter Egg had a pre-sale estimate of more than £20million.

Christie’s Margo Oganesian said: ‘Today’s result sets a new world auction record for a work by Faberge, reaffirming the enduring significance of this masterpiece.’

She added the sale celebrated ‘the rarity and brilliance of what is widely regarded as one of Faberge’s finest creations, both technically and artistically’.

The imperial eggs have enjoyed renewed interest on the art market in recent decades, mainly among wealthy Russians keen to acquire a piece of their country’s history.

Beyond its opulence, it is the ‘technique and craftsmanship’ that makes the Winter Egg exceptional, according to Ms Oganesian.

‘The Winter Egg is truly one of the rarest items that you can find,’ she explained. ‘It’s really hard to comprehend how Faberge created it.’

The egg and its base are sculpted from crystal featuring diamond-encrusted platinum snowflakes.

Carved from delicate rock crystal, the Winter Egg is an icy-looking orb studded with around 4,500 rose-cut diamonds, and stands at only five-and-a-half inches (14 centimetres) tall. Inside, it contains a bouquet of flowers made of white quartz anemones held by gold wire stems, gathered in a platinum basket

The egg and its base are sculpted from crystal featuring diamond-encrusted platinum snowflakes

Tsar Nicholas and his wife, Empress Alexandra, with their five children. They were all murdered in 1918

Inside, it contains a bouquet of flowers made of white quartz anemones held by gold wire stems, gathered in a platinum basket.

Like many other Romanov possessions, the egg bears witness to Russian history. It was transferred from Saint Petersburg to Moscow in 1920 after the revolution.

As with many other Imperial Eggs, it was sold by the Soviet government to generate foreign currency and was acquired by London jeweller Wartski between 1929 and 1933, according to Christie’s.

The Winter Egg was subsequently part of several British collections but was considered lost from 1975, the auction house said in an essay attached to the sale lot online.

‘For 20 years, experts and specialists lost sight of it until 1994, when it was rediscovered and brought to Christie’s for sale in Geneva,’ said Ms Oganesian.

Eight years later, in 2002, it was sold again for a record $9.6 million in New York.

Business

FirstPower Limited Gets License to Distribute Electricity in Anambra

Published

1 week ago

November 27, 2025

Ekwutos Blog

The Anambra State Electricity Regulatory Commission (ASERC) has issued an operational license to First Power Electricity Distribution Company Limited (FPEDC) for electricity distribution in the state.

During a ceremony in Awka, Prof. Frank Okafor, Chairman/CEO of ASERC, presented an interim license to FPEDC, authorizing the company to operate for one year.

The license follows a Nigerian Electricity Regulatory Commission (NERC) order that transferred regulatory oversight of the electricity market to the state after the inauguration of five commissioners on 9 October 2025.

Prof. Okafor explained that the move aligns with Governor Charles Soludo’s administration, which is committed to upgrading the state’s electricity infrastructure and promoting industrialisation.

He noted that, under Section 33 of the Anambra State Electricity Law (2025), only licence‑holders may participate in the state’s electricity market.

Existing operators that are already serving customers must regularise their licences through a thorough process, and ASERC has therefore granted interim licences to NERC‑licensed companies already operating in Anambra.

Dr. Ernest Mupwaya of the Enugu Electricity Distribution Company (EEDC) received the certificate on behalf of FPEDC.

He praised the Electricity Act 2023 for empowering states to develop their own regulatory frameworks and highlighted Anambra’s leadership in implementing these reforms.

According to Dr. Mupwaya, the collaboration among the Anambra State Government, ASERC, and industry stakeholders has produced a “model of constructive engagement, technical depth, and transparent coordination,” paving the way for a competitive electricity market in the state.

He added that EEDC and FPEDC are fully aligned with Anambra’s development goals.

The ongoing reforms are expected to attract investment, expand the network, improve customer service, and modernise the electricity value chain. “Our growth plans for FirstPower are deliberately structured to complement the state’s industrialisation agenda, urban expansion, agricultural development and SME competitiveness,” Dr. Mupwaya said.

He expressed confidence that the company will exceed the expectations of the state government and the people of Anambra.

The interim licence will allow FPEDC to continue its operations while the commission completes the full licensing procedure.

ASERC has pledged to ensure that all licence‑holders adhere to the standards set out in the Anambra State Electricity Law, thereby safeguarding consumers and supporting the state’s broader economic objectives.

Earlier in his reaction, Managing Director Firstpower Electricity Distribution Company Okechukwu Okafor, said the licensing was to formalise the company’s presence and inform stakeholders that this is no longer EEDC in charge but an independent body saddled with the responsibility of distributing electricity in Anambra. “We are going to partner with the industrialists, the state government, and Ndi Anambra so that they will understand that our presence is geared towards a better solution to electricity. We want to change the narrative and target the customers to be happy. We need to take the message to them, provided there is goodwill. We hope that by the end of 2027, the billing rights of the customer will be metered for easy accountability.

Business

Ihedioha denies involvement with EEDC

Published

1 week ago

November 27, 2025

Ekwutos Blog

Says he revived Ahiajoku, advanced electricity in Imo

The former Governor of Imo State and ex- Deputy Speaker of House of Reps, Rt. Hon. Emeka Ihedioha, has denied involvement with the Enugu Electricity Distribution Company (EEDC), neither does he own any share in the company as speculated in the quarters by some mischief makers.

Ihedioha, in a statement he signed and issued to the media on Wednesday, hinted that as a Governor, he championed efforts to improve power supply in the state, a move he said gained more currency with the establishment of Imo State Power and Rural Electrification Agency (IPOREA).
He also mentioned that he revived Ahiajoku Lecture Series with the intent to advance the cultural heritage of the Igbo race.

“My attention has been drawn to baseless and completely unfounded allegations suggesting that I, as the purported “owner” of the Enugu Electricity Distribution Company EEDC, am sabotaging the ongoing Imo State Power Project. Let me state firmly and unequivocally that these claims are false. I do not own EEDC in any form, whether whole or part, beneficial or nominal. I am not on its board, I hold no shares and do not participate in or influence its corporate decisions in any way. Those peddling these narratives are relying on fiction, not fact.

“Notably, I acknowledge and commend the current Imo State Government for its ongoing power initiatives.

“Any genuine effort to expand energy access, strengthen infrastructure and improve the wellbeing of our people deserves encouragement. As Governor, I championed this same vision when I established the Imo State Power and Rural Electrification Agency (IPOREA), the first dedicated institutional framework created to advance electricity development in the state.

“It was established to provide stability, coordination and long-term structure for power solutions in Imo. I remain proud of that foundation and I welcome any progressive steps taken today that align with the goal of a more prosperous and energy secure Imo.

“In the spirit of continuity and cultural advancement, I am pleased to recall that I revived the renowned Ahiajoku Lecture Series during my administration after nearly a decade of dormancy.
“Ahiajoku represents the intellectual soul of our people and its preservation is essential to our cultural identity. I am therefore delighted that the current administration has also reinstated the program, reinforcing a pedigree that enriches Imo’s traditional and academic heritage.

“My commitment to the development of Imo State, its institutions, its people and its future remains unwavering. I will continue to support any initiative that strengthens our state, uplifts our citizens and promotes progress grounded in truth, integrity and vision”, Ihedioha stressed.