While the price of mince is coming as a shock to consumers, suppliers are benefiting from higher prices

Mince has soared in price by 16 percent over the last year.

Woolworths says the cost cost increases are driven by export demand, farm costs, and a reduction in supply.

Beef & Lamb Chief Executive Kit Arkwright says the higher price is benefiting all of New Zealand.

He says it's flowing back into the country's economy and going to regional New Zealand.