Price of Chicken Feed in Thailand surges

The drought in Brazil has sent soybean meal prices, which are used to feed poultry, up by more than 30% YoY.

For now, Thai chicken farmers are absorbing the increase in cost and not passing the price increase on to customers in order to keep prices steady in the local market.

However, importers of Thai chicken are expected to see a sharp increase in prices from Thailand brought on not just by the increased cost but also the reduced supply due to factory closures amidst raging covid19 pandemic.