Economy 2022-09-15T04:49:04+03:00
Ukrainian news
Institute Of Agrarian Economics Forecasts 3-7% Rise In Prices For Poultry Meat Until 2022

Institute Of Agrarian Economics Forecasts 3-7% Rise In Prices For Poultry Meat Until 2022

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poultry meat, poultry, Institute of Agrarian Economics, poultry meat price, poultry price

The Institute of Agrarian Economics National Research Center forecasts a 3-7% rise in prices for poultry meat by the end of 2021.

The institute has said this in a statement, Ukrainian News Agency reports.

“Now a paradoxical situation has developed on the poultry meat market: with an increase in production volumes that already exceed domestic demand, prices for poultry meat are growing,” said Nataliya Kopytets, a leading researcher at the Department of Pricing and Agrarian Market of the Institute of Agrarian Economics National Research Center.

According to her, the wholesale selling price for poultry (chicken carcass) at the beginning of September 2021 was UAH 48.00-74.50 per kilo.

Also, according to her, for the year - from the beginning of September last year to the beginning of September 2021 - the average wholesale selling price for poultry (chicken carcass) in the country increased by 29% and amounted to UAH 58.81 per kilo.

Kopytets noted that at the same time, according to the latest data from the State Statistics Service of Ukraine, in July 2021, consumer prices for poultry meat (chicken carcass) and chicken fillets suffered the greatest changes.

Consumer prices for chicken carcasses increased by more than a third (+34.59%) compared to July 2020 and amounted to UAH 69.34 per kilo, and chicken fillet rose in price by 29.30% - to UAH 109.70 per kilo.

She said that such an increase in consumer prices for poultry meat was caused by several factors: for the period from January to July 2020, consumer prices for chicken carcasses decreased by 17%, and for fillets - by 22.3%, which was due to quarantine measures related to Covid-19, which included border closures.

Besides, according to her, on the one hand, exports were suspended, and on the other, domestic consumption was limited by the low paying capacity of the population.

"Therefore, the rise in prices in January-July 2021 is due to their restoration to the level of 2019. Indeed, in July of that year, consumer prices for poultry meat (chicken carcass) amounted to UAH 61.78 per kilo, respectively, and UAH 109.19 per kilo should be paid for 1 kg of chicken fillet," Kopytets said.

In particular, in her opinion, an important factor in the growth of consumer prices in January-July 2021 was a 3.5% reduction in the poultry population caused by an increase in production costs due to the rise in prices for grain crops and compound feed.

"The further price situation for poultry meat will be determined by the prices for input resources and the population's ability to pay. According to the predicted estimates of scientists from the Institute of Agrarian Economics, by the end of 2021, the price of all types of poultry meat may rise by 3-7%," Kopytets commented.

As Ukrainian News Agency earlier reported, in August 2021 compared to August 2020, poultry meat exports increased by 24.6% or USD 11.841 million to USD 59.885 million, imports - by 20.4% or USD 0.838 million to USD 4.941 million.

In 2020, compared to 2019, poultry meat exports decreased by 4.1% or USD 23.686 million to USD 554.946 million, imports - by 13.4% or USD 7.017 million to USD 45.510 million.





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