Improved global poultry outlook: Trade flow shifts

Published 2024년 7월 2일

Tridge summary

Global chicken prices rose by 2%, but chicken remains cheaper than pork and beef, which saw higher price hikes. Rabobank notes increased demand for value-added poultry products due to higher spending power and lower costs in emerging markets. Feed prices increased by 1% after a two-year decline due to weaker harvests. The U.S. and EU markets are strong, while China and Japan struggle with overproduction. Brazil is reducing production to manage oversupply. Global poultry trade dropped by 5% in early 2024, mainly due to a 40% decrease in Chinese imports. Avian influenza remains a concern, with vaccination efforts showing promise, particularly in the Southern Hemisphere and France.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Despite a 2% jump in global chicken prices, chicken remains a competitively priced protein option, considering prices of pork and beef have increased by 4% and 5%, respectively. Rabobank noted that demand for value-added poultry products is improving as spending power gradually rises and costs decline. “Most of this global growth has been driven by strong local market conditions rather than trade,” said Nan-Dirk Mulder, senior analyst of animal protein at Rabobank. “This is particularly true for emerging markets in Southeast and South Asia, Africa and Latin America. Lower feed prices have made chicken more affordable, supporting demand recovery.” Feed prices reached their lowest value after declining for two years. However, they increased for the first time in two years by 1% due to weaker-than-expected harvest predictions in Brazil, North America and Europe. Market conditions in the United States and the European Union are strong this year with relatively high demand, controlled ...

Source: Meat+Poultry