Bullish outlook for global poultry markets as consumption grows

Published 2024년 9월 16일

Tridge summary

Rabobank's report indicates a bright future for the global poultry market, with consumption expected to grow between 2.5% to 3% by 2024 in most regions. This growth is attributed to lower production costs and a rebound in demand. However, China and Japan face challenges of oversupply. The global poultry trade is anticipated to grow in tandem with demand, despite potential risks such as animal diseases and geopolitical tensions. The market faces challenges like Newcastle disease outbreaks and the impact of avian influenza, but some regions have seen a reduction in outbreaks. The US has been significantly impacted by ongoing outbreaks, affecting the egg industry. Rabobank stresses the importance of supply discipline to prevent oversupply and maintain balanced market conditions.

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

Original content

The outlook for global poultry markets is bullish, driven by accelerating consumption growth in many markets, Rabobank has said in a new report. Global poultry markets are performing well due to lower production costs and solid demand recovery in most markets, according to multinational banking group. After several years of slow growth, global poultry consumption is forecast to reach 2.5% to 3% in 2024, marking a return to historic levels. Nan-Dirk Mulder, senior analyst at Rabo said: “Poultry’s strong price position against other proteins in most markets, along with strong retail demand, recovering foodservice demand, and rising sustainability strategies that support chicken demand are supporting rapid growth.” Most poultry industries worldwide have remained relatively profitable, with rising prices in many cases, the report said. However, the main exceptions are China and Japan, which continue to suffer from local oversupply. Fast production growth, in combination with more ...

Source: FarmingUK