Ramadan spurs chicken price surge as demand peaks in India

Published Mar 15, 2024

Tridge summary

Chicken prices in India are on the rise due to a surge in demand during Ramadan, increasing temperatures, and higher input costs. This trend is expected to persist until April. A significant factor contributing to this increase is a 20% rise in maize prices over the past three months, driven by the government's focus on ethanol production. This has led to an increase in poultry feed costs, although soymeal prices have remained stable. The Indian government is planning to boost domestic production of maize, bajra, and broken rice to cater to the needs of the poultry and starch industries.

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

Original content

(MENAFN- Live Mint) "New Delhi: With the onset of Ramadan, chicken prices are on the rise due to robust demand, exacerbated by rising temperatures and increased input costs affecting production. Agriculture experts said this trend may persist till April February, broiler chicken prices rose 10% due to limited supplies stemming from the outbreak of bird flu in Andhra Pradesh. Moreover, the escalating cost of feed further drove up prices, as maize prices soared by 20% from ₹22,000 per tonne to ₹26,500 per tonne over the past three months. This is attributed to the government's push on ethanol production to achieve the E20 target by 2025-26, amid declining sugar production, chicken prices rose from ₹100-110 a month ago to ₹106-130 per kg across key farm gates in tier-1 cities, including Delhi, Bengaluru and Kolkata, according to spot traders food inflation climbed from 8.3% in January to 8.66% in February, marking a 6% increase from the previous year, primarily driven by a ...

Source: Menafn