The three-month average price of EU origin chicken (Dec-Feb) increased by 1% against the preceding three-month average (Sep-Nov), due to rising EU exports to destinations such as the Philippines, Ghana, Ukraine, and South Africa. EU chicken production is estimated to reach 15.8m tonnes in 2020, up 1.5% y-o-y according to the European Commission. The increase in production is expected to be driven by rising demand for chicken to replace pig meat, particularly from South-east Asian countries.
Additionally, the average price of US chicken (Dec-Feb) rose seasonally by 14% against the previous average (Sep-Nov), supported by strong demand from China. US exports are projected a total of 3.4m tonnes in 2020, up by 4% y-o-y on the back of increased slaughter rates and rising exports to Mexico, Cuba, Canada, and China.
From economical to political, all the factors impacting the chicken market have been analysed to provide a market outlook for the next three months. Mintec’s market outlooks (schedule) provide insights on factors shaping the market dynamics of various commodities, providing the opportunity for market participants to stay ahead of factors that will impact procurement decisions. Please visit our Mintec Analytics platform to find out more.