August 30, 2007

Pakistan's poultry prices reach record levels

Prices of chickens have reached record levels in Pakistan as heavy rains and floods caused extensive damage to poultry farms in the region.

Retail prices of live broiler chickens have reached an all-time-high in Karachi as they rose by Rs 38 (US$0.625)  in the last one month to Rs 110 (US$1.810) per kilogramme, traders said.

This is a 52-percent increase from last month when prices were just Rs 72 per kilogramme, Chief Convener of Pakistan Poultry Association (PPA), Maroof Siddiqui said.

Farmers are facing problems of high mortality among chicks of broiler hens, he noted. Last month, the PPA announced that prices are likely to go up due to the devastating effect the heavy rains from the monsoon season had on poultry farms in the region.

Higher demand was also brought on by the marriage season. The upturn in weather conditions in recent weeks has also spurred demand.

Shortage in alternative meats such as beef and mutton further worsened conditions.

Siddiqui said new production is unlikely to reach the market for at least two months and prices may take that long to stabilise

However, there may be a chance of chicken prices dropping in the near term as next month would be the Muslim fasting month of Ramadan, when there would be lesser demand, Siddiqui said.