Poultry consumption to grow by 15 million tonnes in the next 8 years
Developing countries will support poultry production and consumption around the world by adding 21% in volume to the consumption level reported in 2016. In the next 8 years, the demand for poultry meat in these countries will reach almost 88 million tonnes per year, adding 15 million tonnes to the levels reported in 2016.
At the same time, developed countries are expected to see an increase in consumption of 9%, while the global average is expected to be up 16%.
Changing diets and affordable prices for poultry meat will encourage developing countries inhabitants to consume more, according to an FAO reporter. As an example, Latin America and Caribbean region are projected to consume 34.6 kilograms of poultry per capita by 2030.
To meet increasing demand, FAO projects world poultry meat production to rise by nearly 16.5% from the base year average of 2016-18 and 2028, slightly slower than the 18% growth comparison for 2015-17 and 2027 periods from the last Agricultural Outlook report.
Due to slower meat consumption growth and an expanding meet supply coupled with lower feed grain prices relative to the previous decade, real poultry meat prices are forecast to decline in the mid-term. Real poultry prices, according to FAO, will fall under $900 to nearly $860 per metric ton/product weight by 2028. Unadjusted for inflation, nominal poultry meat prices are projected to rise slightly over the next decade.
Yet, in terms of the real price change from 2019 to 2028 for meat commodities, poultry ranks second to last compared to that for pork, beef and sheep with an annual real price growth rate of -0.57%.
European Commission forecast has poultry production volume growing slowly, as well, projected to reach almost 15.5 million tonnes (cwe), up from 14.9 in 2018.
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