The outlook for global poultry markets remains optimistic, Rabobank said.
Eggs are reaching record-high prices globally and competing proteins such as beef and pork are expected to remain expensive in most markets and chicken and turkey meats remain the cheapest animal protein.
But low-income people can’t afford poultry.
“This is happening in Africa and Asia in particular, where consumers are returning to cheaper, traditional plant-based protein sources,’’ said Nan-Dirk Mulder, senior analyst for animal protein at Rabobanks
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Global trade is expected to stay strong this year.
“Major importing countries and regions such as Europe, Japan, China, Singapore, the Philippines, Saudi Arabia, and the Gulf States are operating under relatively tight conditions, due partly to supply challenges and partly to AI.
”Import volumes will likely rise, and prices will be affected by availability in Brazil and the U,S., which looks relatively abundant for this year,” said Mulder.
The development of AI will be a big wild card for trade. Other challenges are ongoing high costs for feed and energy and limited availability of breeding stock and high construction costs.
Over the course of the year, we expect soybean and corn prices to drop five to 10 per cent compared with prices so far this year, he said.
This will provide some relief for producers, but will still mean historically high feed prices in most regions,” Mulder said.
