Why chickens are getting more pricey from Manhattan, US to Malaysia?

Published May 27, 2022

Tridge summary

The global market is experiencing a surge in chicken prices, driven by the repercussions of the Ukraine conflict and the disruption of poultry exports to Europe and the Middle East. The war's impact on Ukraine's corn and wheat production, a crucial component of chicken feed, has further escalated costs for poultry farmers. Additionally, the outbreak of avian influenza has led to significant losses in poultry flocks, exacerbating the shortage and driving prices higher. Countries such as the UK, Malaysia, and the US are grappling with these challenges, with Malaysia planning to ban poultry exports to control local prices and food costs. The European Union anticipates a decrease in animal feed production, and Malaysia is investigating potential price manipulation by large companies.

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

Original content

(May 27): Chicken is the most consumed meat in the world, but from the US to Singapore, consumers are finding that it’s more expensive than before to get their hands on one. While it’s not the only food product seeing a surge in prices, it means more pain for consumers as the costs of their favourite dishes like fried chicken and buffalo wings are jumping as well. Here are some reasons driving the price of poultry higher: The war in Ukraine has disrupted its poultry exports to countries in Europe and the Middle East. A bigger shock, though, has been the impact on grains. Ukraine is a major producer of corn and wheat, which are components of chicken feed. With a key source of global supply cut off, it’s translating into significant pain for poultry farmers as those ingredients make up the bulk of their costs of rearing chickens. In the UK, prices of a bird have jumped about 8% from the end of last year. Rising energy and transport costs are further compounding the problem. The ...

Source: Theedgemarkets