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October 13, 2011

Thai Broiler Weekly: Chicken prices show mild drop on vegetarian festival (week ended Oct 6)

An eFeedLink Exclusive
 
 
Price summary
 
Thailand's nine-day vegetarian festival from Sept 27 to Oct 5 failed to have a major impact on domestic chicken prices. While prices at public markets went down by THB5/kg this week, the drop was far less than last year's, which reached nearly 50% at certain retail outlets like Tesco-Lotus.
 
And unlike last year when it fell from THB40/kg to THB37/kg, the farm-gate price of live birds has remained stable at THB44/kg in Bangkok before and throughout the festival.
 
 
Market analysis
 
As part of its Buddhist tradition, Thailand celebrates a vegetarian festival about this time every year. For nine days, millions of Thais avoid meat, poultry and fish. In most years, meat prices would usually plummet shortly before and during the festival, due to sluggish demand.
 
For example, at Tesco-Lotus supermarkets in Bangkok last year, chicken thighs with bones were being sold at THB42/kg, from THB75/kg a week before the festival.
 
Even then, the drastic fall was considered mild. Three years ago, live broiler prices plunged to THB31.50/kg from THB38-39/kg before the festival.
 
Thai Broiler Association officials attribute the festival's minimal impact on this month's broiler prices to strong overseas demand and the state of alert in Bangkok and other areas of the country in the face of anticipated flooding.
 
The government has warned that a huge part of Bangkok and nearby provinces could be inundated this week when swollen dams would be opened to prevent their breaking up in the face of continued rains.
 
The alert has driven people to stock up on food supplies and other basic necessities, driving meat prices up.
 
Adding to the strong local demand, broiler exports to Europe have been flying high despite the EU's deepening credit crisis. In August, Thai chicken exports were 7.7% more than in July, or 27.4% more compared to the same period last year.
 

Markets

Prices for whole dressed chicken
as of  September 29(in Thai baht/kg)

Prices for whole dressed chicken
as of  October 6(in Thai baht/kg)

Changes
(in Thai baht/kg)

Supermarkets (Bangkok)

130-135

130-135

--

Public markets (Bangkok)

75-90

75-85

-5.00

Public markets (Suburbs)

70-85

70-80

-5.00

Farm gate 

44(Liveweight)

44

--

US$1=THB 30.82 (October 13, 2011)

 


 
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