Thai poultry sector to grow further thanks to exports
Feed costs for poultry farmers in Thailand have grown recently as the government stepped in to intervene in this segment, but that doesn't stop the advance for the industry, according to a recent USDA GAIN report.
Domestic consumption and exports are projected to grow further, even if the local market will see a certain increase in prices in the next months. From October 2017 to July 2018, the industry has struggled with below-breakeven prices for live broilers and the governmental intervention on feed ingredients market could limit the expansion of the sector, according to the analysis.
Despite that, Thailand's poultry production for next year is projected to grow by 4%, to reach 3 million tonnes from 2.88 million tonnes presumed to be recorded this year. Domestic consumption will decrease in 2019 due to higher prices and a strong export, mention the analysis. Exports for this year are estimated to grow by 8%, to 820,000 tonnes, and to register a growth rate by 6% next year thanks to access of poultry products in the Japanese market and other non-EU markets.
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