CBA - June (final)

Poultry Price Spotify - BSU Newstalk Why Did the Price of Poultry Go So High?

Poultry is the most consumed meat globally, but from the United States to Singapore, customers encounter it’s more pricey than before to get their hands on one. While it’s not the only food product seeing a surge in prices, it means more pain for consumers as the costs of their favoured dishes like fried chicken and buffalo wings are jumping. Restaurant owners who have to continue selling food at the same price will encounter a financial burden in addition to the recent inflation issue.

Foremost, one of the driving elements for the more elevated poultry expense is the war in Ukraine. The war in Ukraine has disrupted its poultry exports to places in Europe and the Middle East. A bigger shock, though, has been the impact on grains. Ukraine is a significant producer of corn and wheat, which are components of chicken meals. With a critical source of global supply cut off, it’s translating to substantial pain for poultry farmers.

Avian influenza, which can destroy chicken flocks, has immensely influenced the output of farms worldwide. Farmers who have struggled to stop the spread are forced to execute mass killings. More than 38 million chickens and turkeys have been killed in a massive outbreak since the start of February in the US. The UK faced its largest-ever outbreak of bird flu last October. In France, one in 20 birds has been culled.

Malaysia intends to ban the export of chickens to ensure local supplies and place a cap on surging food prices, with food prices hitting the highest. The government once tried several ways to control chicken prices, including setting ceiling prices and pledging subsidies to help ease the burden of food producers with higher costs. Besides, the government also cancelled approved permit conditions for poultry and wheat imports, but those tactics didn't work satisfactorily.