The average price of EU chicken (Jun-Aug) was stable against the previous average (Mar-May). EU chicken prices declined between mid-March and May, primarily driven by subdued prices in Poland (PL). EU prices fell, on the back of reduced exports (due to the spread of avian influenza in PL at the beginning of 2020 combined with lower domestic foodservice demand. However, prices have strengthened since late July, as lockdown restrictions across the EU eased and foodservice demand rebounded.
Meanwhile, the average price of US chicken (Jun-Aug) fell by 3% against the previous three-month average price (Mar-May). Abundant supplies and weakened demand from the foodservice sector, stemming from the coronavirus pandemic, were the major contributors to the price decline. Furthermore, US chicken exports are projected to decline for the remainder of the year due to continued economic weakness in several export markets and lower-than-expected demand from Mexico.
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.