EU broiler prices down 9% from a year ago
Broiler prices in the EU have dropped bellow the lowest level recorded in the last 5 years and the market seems to be flooded by European poultry products as exports are declining as well. Volumes exported by the EU to third countries have dropped by 120,000 tonnes In the first quarter of the year, according to data released by the European Commission. Exports to the UK are down 37.8% compared to the same period last year but there are some other markets that have registered declines in poultry shipments from the EU as well. Ukraine is down 36%, South Africa's imports have dropped by 39% and Hong Kong imported 24.9% less poultry year-on-year.
So, actually, there is a volume of almost 123,000 tonnes kept in the domestic market due to logistic issues, lockdown measures and decreasing demand from several main destinations for EU poultry products. At the same time, the foodservice sector has been closed almost everywhere in Europe, at least from March, and as a result, prices have dropped constantly to sit at €176.12/ 100 kg carcase weight. The average price is 0.6% lower than last week, 0.7% than last month and 8.9% lower than the one reported a year ago.
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