October 5, 2007

High prices to slash Taiwan's chicken imports in 2007

Taiwan's chicken imports in 2007 are expected to fall to less than half of last year's  95,000 tonnes as high prices deterred consumers from buying imported chickens.

Taiwanese consumers are facing a steep hike in prices of imported chicken and beef as grain and oil prices rose in global markets, according to Taiwan's National Animal Industry Foundation

The China Post reported that the price of imported chicken, mostly from the US, has been rising every month since January.

Prices are now 61 percent higher compared with the same time last year, to levels near that of local chickens. As such demand for imported chicken, which are usually cheaper, have decreased.

Restaurants operators in Taiwan also expect imported beef prices to rise between 10-40 percent in the next few months.

The price of US beef is expected to jump 30-40 percent, while Australian and NZ beef shipments are expected to be 10-20 percent pricier. This is especially so if the Australian dollar continues to strengthen.