Poultry prices are spiking in the Dominican Republic

Published 2021년 1월 19일

Tridge summary

The article explains how the surge in demand for corn and soybeans from China has resulted in a significant increase in the prices of these commodities, which in turn has led to a drastic rise in the cost of meat production in the Dominican Republic. The poultry sector has been hit the hardest, with production costs soaring by over 70% due to a 41% increase in the price of corn and soybeans in 2020. This situation has been worsened by the Covid-19 crisis, which has negatively affected production numbers. The Dominican Poultry Association is urging authorities to address the issue and help stabilize prices. If no action is taken, prices are expected to continue to rise.

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

Original content

Increased demand for corn and soybeans from China has led to a spike in prices for meat products in the Dominican Republic. The price of raw materials used by the Dominican poultry sector increased by 41%, which directly impacted its production costs by more than 70%. Although the sector hopes that everything will improve, the projections for the first months of 2021 are not positive.“We, as an association, understand that the chicken should not grow more than it is. Production is even increasing, ”said Pavel Concepcion, president of the Dominican Poultry Association, quoted by the Avicultura Industrial magazine. The executive director of the Dominican Poultry Association, Gregory Marte, said that the price of corn and soybeans increased 41.4% and 40.8%, respectively, in 2020 compared to 2019, which in his opinion reflects an increase never seen before. "Corn and soy represent 70% of the cost of producing chicken and eggs and 95% of pork," said Mars, indicating that the Dominican ...

Source: EuroMeat