EU average poultry prices down 2.5% from last year
Chicken meat prices in the EU are slowly declining from the figures reported in the last couple of months, losing 0.2% in 100kg/cwt from last month and 2.5% compared with the same period last year. Nevertheless, the average broiler price in the EU is consistently higher than the value reported in Brazil and in the US. (see chart below).
That could make the products less competitive in some markets such as mainland China and Hong Kong where the increase in poultry imports is about 400,000 tonnes for the first 8 months of the year. For example, EU poultry exports in Hong Kong have grown only by 0.6% between January and August 2020. The was an increase of 44% in volumes sent to Congo, 9.5% in Ghana and 4.6% in the Filipino market but those are barely cover the losses reported in exports to the UK, Ukraine and other third markets.
However, according to Francisco Turra, chairman of the Board of the Brazilian Animal Protein Association (ABPA), Brazil must expect a 20% increase in poultry prices as feed costs have almost doubled this year.
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