Connect with us

Business

Why Aussie consumers could soon be paying DOUBLE for beef

Published

on

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)

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.

Read more

Business

Soludo takes over Onitsha main market as IPOB declares compulsory sit-at-home

Published

on

The Governor of Anambra State, Prof Chukwuma Soludo has announced that his government will take over the running of Onitsha Main Market.

The governor had last Monday visited the market and also announced a one week closure over the continued adherence to sit at home protest by traders in the market.

The closure had generated a lot of tension, leading to protests by the traders, while the governor stuck to his gone, insisting that the market will remain closed for one week. He also held a meeting with the leaders of the market yesterday, where he presented them with two options.

Though it was a closed door meeting, which held at the Light House, Awka, a source in the meeting told THISDAY that the traders chose to open their shops on Monday, against an earlier option of demolishing and remodelling the market.

The source said: “The governor gave them two options. The first included; they will resume full trading activities on Mondays, mark attendance as required, while he regenerate and reorganise the market, demolish all illegal structures and plazas and create proper spaces and car parks. The second includes; To continue with Sit-at-Home on Mondays and risk the demolition of the market and use two-years for its reconstruction to restore it to its original master plan.

“The governor told them that restoring parking facilities in Main Market is an emergency, and any illegal structure erected at the park would be demolished soonest.”

It was gathered that the traders choose the first option, which will involve them opening on Monday, and giving the governor the go ahead to remove illegal structures to make way for wider roads in the market and restoring its packing space.

During the meeting, the governor told the traders that a committee will be set up to rectify all occupants of shops in the market, and that this will commence work soon, insisting that the government needs to know those who are trading in its market.

The governor was also said to have rejected a plea for the market to be opened on Saturday, insisting it can only be opened on Monday, when their compliance will again be re-accessed.

“The traders agreed to the terms, and will on Monday reopen the market to recommence business,” the source said.

Meanwhile, secessionist group, Indigenous People of Biafra (IPOB) has declared what it called Biafra-wide solidarity lockdown which is to hold on Monday in solidarity with Onitsha traders and to demand for Mazi Nnamdi Kanu’s immediate release.

A press release by the group’s publicity secretary, Mr Emma Powerful said the total shutdown across Biafraland is a direct, peaceful, and unified response to the shutting down of Onitsha Main Market for one week by Soludo.

The release said: “We remind Governor Soludo and his Abuja sponsors that the Monday sit-at-home originated as a peaceful protest demanding the unconditional release of Mazi Nnamdi Kanu, the very cause that has galvanized global attention to Biafra’s quest for self-determination.

“Attempts to twist this into “economic sabotage” or “criminality” will fail. The markets thrived during Christmas Mondays without incident, proving that voluntary compliance stems from genuine solidarity, not fear. Soludo’s escalation only exposes his desperation to provoke confrontation at a time when Biafra’s international profile is rising and diplomatic efforts are gaining traction.

“On Monday, February 2, 2026, we call on all Biafrans traders, transporters, banks, schools, civil servants, and every sector across Anambra, Abia, Imo, Enugu, Ebonyi, and beyond to observe this solidarity strike peacefully.

“Remain indoors, refrain from all commercial and public activities, and demonstrate to the world our disciplined resolve. This is not about disruption for its own sake; it is about standing with Onitsha traders who are being punished for demanding justice, and reaffirming that no governor can coerce free citizens into abandoning their rights or their solidarity.”

Continue Reading

Business

BUA Chairman Is My Ex-Husband – Tinubu’s Minister Opens Up On Past Secret With Abdul Samad Rabiu

Published

on

Nigeria’s Minister of Art, Culture and the Creative Economy, Hannatu Musawa has opened up about her former marriage to BUA Group chairman Abdul Samad Rabiu, describing it as a meaningful and life-shaping experience.

In a conversation on the MIC On Podcast with Channels Television journalist Seun Okinbaloye, Musawa reflected on her bond with Rabiu, saying their connection has remained strong despite their separation.

She explained that their relationship has evolved into one grounded in family ties, mutual respect, and continued support.

Musawa shared that although they are no longer married, they remain close and involved in each other’s lives.

She also pointed out the lasting connection between their families, noting that her daughter, Khadija, was named after Rabiu’s grandmother, showing the enduring link between them.

The minister described her time with Rabiu as one of the most memorable periods of her life.

She stated that there is no bitterness between them and that she will continue to support him in his endeavors, maintaining respect and care for their shared history.

She said: “We love each other because you love your family, obviously. But Samad is my brother. He’s my family. That’s what he is. And I’m his sister and his family, too. The marriage of the greatest experiences I’ve ever had.

“He is my ex-husband, but we are still family. We juggle coming from a background where, once you’re joined together, you continue to participate in each other’s lives. And so, we were married, and now we are just family.

“My daughter Khadija was named after Samad’s grandmother.

“We continue to share a deep respect and a love, and more than anything, support for each other. I’ll continue to be his greatest cheerleader.”

Abdul Samad Rabiu leads BUA Group, a Nigerian conglomerate with investments in cement, sugar, and other industries, and is regarded as one of the country’s leading business figures.

Continue Reading

Business

LIRS reiterates January 31st deadline for employers’ Annual Tax returns filing

Published

on

 

The Lagos State Internal Revenue Service (LIRS) has reiterated the statutory deadline of 31st January 2026 for all employers of labour in Lagos State to fulfil their statutory obligation to file their annual tax returns for the 2025 financial year.

In a statement issued on Thursday, January 19, the Executive Chairman of LIRS, Dr Ayodele Subair, reminded employers that the obligation to file annual returns is in accordance with the provisions of the Nigeria Tax Administration Act 2025 (NTAA).

Dr Subair explained that employers are required to file detailed returns on emoluments and compensation paid to their employees, as well as payments made to their service providers, vendors and consultants, and to ensure that all applicable taxes due for the year 2025 are fully remitted. He emphasised that filing of annual returns is a mandatory legal obligation, and warned that failure to comply will result in statutory sanctions, including administrative penalties, as prescribed under the new tax law.

According to Section 14 of the Nigeria Tax Administration Act 2025 (NTAA), employers are required to file detailed annual returns of all emoluments paid to employees, including taxes deducted and remitted to relevant tax authorities. Such returns must be filed and submitted not later than January 31 each year.

Dr Subair stated

“Employers must prioritise the timely filing of their annual income tax returns. Compliance should be part of our everyday business practice. Early and accurate filing not only ensures adherence to the law as required by the Nigerian Constitution, but also supports effective revenue tracking, which is important to Lagos State’s fiscal planning and sustainability.”

He further noted that in Lagos State, electronic filing via the LIRS eTax platform remains the only approved and acceptable mode of filing, as manual submissions have been completely phased out. This measure, he said, is aimed at simplifying and standardising tax administration processes in the State.

Read more in comments section

Continue Reading

Trending