Many Ohio families will be reaching a little deeper into their pocketbooks this year to pay for their traditional Thanksgiving feasts.
Prices for staples like turkey, potatoes, and green beans have fluctuated for a few years now.
To get a sense of what's going on with food prices this season, WOSU's Matthew Rand spoke with Jared Grant, a professor in the Department of Agricultural, Environmental, and Development Economics at Ohio State University.
Matthew Rand: The turkey is the centerpiece for a lot of families’ holiday meals. There’s been a lot of reporting about elevated turkey prices this year. So, what should folks expect to pay for their bird, and what’s driving those costs?
Jared Grant: Right now, there isn't really data on retail prices, but wholesale turkey prices have increased. Like many have highlighted, it's reached anywhere from $1.71, when previously it may have been under a dollar. One of the primary reasons for this is because of the highly pathogenic avian flu or HPA1, which had a huge effect earlier this year on the whole poultry industry and eggs. So, because of that, producers have seen numerous issues. We're seeing supply issues, scarcity—and that has implications for why we're currently seeing high turkey prices today.
Matthew Rand: Of course, it's not just turkey we're talking about. What are some other larger grocery store price trends you're seeing as we head into Thanksgiving?
Jared Grant: Actually, you mentioned potatoes, which compared to last month, are a little bit lower. But something that's interesting is that some retailers are offering discounts, like Walmart is offering lower prices on select items, including wholesale turkey. So, in some cases, they can do that to compete with customers having to pay higher prices.
Matthew Rand: President Trump last week scrapped some of his administration’s tariffs on a list of foods that include beef, coffee, tropical fruits, spices and cocoa. Will the easing of those tariffs make much of a difference at the checkout line?
Jared Grant: So, interestingly, earlier this year, there was a poll or survey out in January where they asked people what they were concerned about in food prices. And the number two thing they were concerned about was 78% worried about was the impact of tariffs on food prices. So, reducing that could have a factor in like lowering expectations or perceptions.
Matthew Rand: Of course, farmers play a big role in producing much of what ends up on holiday tables. Are there any supply-chain issues, crop conditions, or production costs here in Ohio that are affecting grocery prices this season?
Jared Grant: Well, in terms of poultry and specifically turkey, as we mentioned, Ohio is hit hard, by the avian flu. So, we’re seeing producers currently trying to recover from that. [In terms of produce] right now, compared to last month, we're seeing those prices increase more slowly.
Matthew Rand: Do you have any tips for shoppers looking to keep their Thanksgiving costs manageable this year?
Jared Grant: Some grocery stores are offering special deals. So looking out on that or seeing what's lower than retail. In some cases, if you are used to a certain brand, maybe seeing what's a different brand of turkey. And, in some cases, Thanksgiving's about just having a lot on your plate. [For instance,] bread prices are actually lower. So, focusing on that.
