EU

EU broiler prices sink

Poultry

Between March and the last week, broiler prices have dropped by 6.5%.

Posted on Apr 16 ,09:14

EU broiler prices sink

Despite increased consumption of poultry in the EU market, broiler prices have dropped constantly in the last few weeks reaching an average price of €184.65/100kg, marking a decrease of 0.5% compared with the previous week and a 6.5% drop from the average price reported in March. Also, the current value per 100 kg is 3% lower year-on-year (see the first chart below).

broiler EU


Major markets in the region, such as Spain, Italy, and France, have reported switching consumption habits from other meats to poultry during this COVID-19 crisis but that didn't have an influence over prices due to the closure of foodservice in most of the EU member states. Also, is good to have in mind that poultry self-sufficiency ratio in the EU is 106% and a drop in exports reported since January has flooded the market.
Since the beginning of the year, EU poultry exports have declined severely in several third-markets such as Ukraine, Hong Kong, South Africa, and Benin. The only major rise in demand was reported in the Filipino market (+27.7%).
Nevertheless, the market looks the same for other major poultry exporters such as the US and Brazil who are confronted with significant drops in prices in the last few weeks (see the chart below).

broiler world_1

In terms of production, Poland is leading the top, with 17% of total poultry output in the EU, followed by France and Spain, each covering 11%, Germany (10%) and Italy (9%). UK poultry production accounts for 13% if considered a part of the EU market.

 

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