W13 Chicken Update: Seasonal Fluctuations in Peru, Egyptian Post-Ramadan Price Correction

Published 2024년 4월 5일

In W13 in the chicken landscape, wholesale chicken prices in Metropolitan Lima, Peru, have recently fluctuated, influenced by seasonal shifts and supply-demand dynamics, particularly evident during the Easter holiday period. Prices peaked at USD 2.10/kg in the early days of W12, impacting retail prices reaching USD 2.95/kg. Despite a slight decline from this peak, prices have remained elevated, with an upward trend seen throughout 2024. BCRP links earlier price increases to hotter temperatures, affecting chicken growth and supply. However, a price correction is anticipated in April as cooler weather improves chicken growth. These fluctuations are significant as chicken prices contribute to the CPI, impacting inflation rates. Meanwhile, the poultry industry in Egypt is adjusting prices after a surge during the first half of Ramadan, with reductions of 10 to 15% announced by the General Union of Poultry Producers, aiming to stabilize the market following the Ramadan-related price hike.

Peruvian Chicken Prices: Seasonal Fluctuations and Inflationary Impact

Wholesale chicken prices in Metropolitan Lima, Peru, have exhibited recent fluctuations, coinciding with the Easter holiday period. Prices in Peru demonstrate sensitivity to seasonal variations and supply-demand dynamics. While recent price hikes coincided with Easter, the anticipated cooler weather in April could lead to a price correction. The wholesale price of a kilogram (kg) of chicken in Metropolitan Lima falls between USD 1.89 and USD 1.93 in W13. Prices peaked at USD 2.10/kg during the first days of W12, impacting retail prices that reached USD 2.95/kg. An upward trend has been observed throughout 2024, with average prices reaching USD 1.81/kg in Jan-24, USD 1.94/kg in Feb-24, and Mar-24 at USD 2.11/kg.

The Central Reserve Bank of Peru (BCRP) attributes the earlier price increase to higher temperatures during the summer months. Hotter weather can impact chicken growth and weight, leading to reduced supply, and consequently, higher prices. The BCRP anticipates a price correction in April due to cooler weather improving chicken growth and potentially increasing supply. Fluctuations in chicken prices are closely monitored as they influence the overall Consumer Price Index (CPI), a key inflation indicator. Chicken's weight in the CPI basket is estimated at 0.121%.

Egyptian Poultry Prices Adjusted Following Ramadan Surge

The Egyptian poultry industry is implementing price adjustments following a period of increased prices observed during the first half of Ramadan. The poultry industry is taking steps to moderate poultry and egg prices following a period of Ramadan-driven inflation. These adjustments will be reflected in consumer markets starting from April 2, 2024. The General Union of Poultry Producers announced a 10 to 15% reduction in chicken prices, bringing the farm gate price to USD 4.38/kg. Egg in carton prices are also being adjusted downwards, dropping to USD 7.22 from the previous level of USD 8.02.

Poultry prices in Egyptian markets witnessed a temporary increase of approximately USD 0.25/kg during the first half of Ramadan. This aligns with typical market trends associated with higher demand during religious holidays. The current price adjustments aim to stabilize the market following the Ramadan-related price hike.