Despite double-page spreads in Sunday papers promoting 33% off meat or half-price turkeys, consumers pushing trolleys around supermarkets are blissfully unaware of how much they are being ripped off. Behind these expensive ad campaigns lie internal documents revealing the extent of the margins on meat.

As our investigation reveals, shopkeepers who trade meat at their counters can expect to get a return of up to 50% on their money for certain cuts in just a few hours. Meanwhile, farmers who rear beef for almost three years are losing 60-70c on every kilo produced this year according to Teagasc.

This week Tesco said the retail price of beef has no impact on the farmgate price. It says it pays for any price promotions it runs. But supermarkets don’t take the hit when a 33% price reduction is put in place. It is clear they just push this back to their suppliers and ultimately it is the farmer who pays. Meanwhile, the supermarkets’ share and profits handsomely rise as farmers lose money.

So who is looking for a half-price turkey? It could be suggested, nobody, only the supermarket. Because of their dominant position (three control approximately 75% of the market) they decide. And the analysis shows that even at half price they still make money. Once in the door, shoppers fill their baskets with even higher-margin products such as shampoo and coffee.

This week Eurostat published figures to show that Irish people are spending less than 9% of their income on food. While this has reduced from 28% in 1980, it would appear supermarkets still think this is too much and use promotions to further drive down food prices.

But a cheap food policy is a fallacy. Farmers are producing food for prices that have not moved in decades. Meanwhile, retailers can get a 50% return on their money on meat they sell in hours. The share of profit has shifted in favour of the big retailers.

Much of the blame has been pointed at excessive profits in the processing sector. Unfortunately, because of the secretive nature of these privately held businesses, there is no financial visibility for 90% of the cattle killed in this country.

And, similarly, at retail level, despite many calls by farm organisations for a grocery adjudicator to better regulate the sector, the Government has made no moves to provide the necessary regulatory powers that would improve financial transparency.

If the supermarkets want to seriously participate in the Beef Market Taskforce, they need to be transparent on their margins. Otherwise they are asking beef farmers to lose money so they can maintain healthy profit margins. The Government can help by removing the veil of secrecy and bringing transparency to shoppers and farmers.