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Market Reports

October 13, 2014
 
Thailand's chicken export to the Philippines starts in February
 
An eFeedLink Exclusive
 
 
Price summary
 
Thailand's chicken prices remain weak with domestic demand just recovering from the ten-day (September 24-October 3) vegetarian festival and the Buddhist Lent season, which ended October 8.
 
Most Thais observe both religious events by refraining from eating meat, including poultry, causing prices for chicken, egg and pork to tumble.
 
The farm-gate price for live chicken in the week ending October 3 was THB45/kg (US$1.41/kg) down from THB46/kg (US$1.44/kg) the week before.
 
In Thailand's southern region, however, the price has begun to recover with live poultry now selling at THB42/kg (US$1.31/kg) from only THB39/kg (US$1.22/kg) in late September.
 
 
Market analysis
 
Thai chicken prices are expected to fully recover in a few months as domestic demand starts to pick in the run-up to the year-end holiday season.
 
Increasing export demand, lately from the Philippines, will help drive the recovery, analysts said.
 
The Philippine government recently approved cooked chicken imports from two Thai companies, Charoen Pokphand Foods (CPF) and Cargill Meats (Thailand), whose first shipments are slated to be made around February.
 
Chavalit Chookajorn, permanent secretary of the Thai Ministry of Agriculture and Cooperatives, said this would be the first time that Thai cooked chicken is going to be exported to the Philippines.
 
The Betagro group, meanwhile, attained higher revenue from sales of broilers, whose total reached US$ 1.24 billion during the first half 2014,  or an increase of US$311.14 million or around 18%, from the same period last year.  
 
Saha Farms is also getting back on its financial feet, aided by a rehabilitation programme funded by loans made available by Krungthai.Bank, in the amount of US22 million for operational expenses and the purchase of chicken parent stocks and another US$62 million for use as working capital.
 
Saha Farms' processing capacity before the 2008 financial crisis was 600,000 chickens per day but has dwindled to 200,000 chickens per day. Saha expects to break even at 300,000 chickens per day. 
 
Markets
Pricesfor whole dressed
chicken as of
  Sep 26
(in Thai baht/kg)
Prices for whole dressed
chicken as of
  Oct 3
(in Thai baht/kg)
Changes
(in Thai baht/kg)
Supermarkets (Bangkok)
145-155
145-155
---
Public markets (Bangkok)
80-90
80-90
---
Public markets (Suburbs)
80-90
80-90
---
Farm gate 
46
45
-1
US$1=THB 32.50 (October 9, 2014)
 
 


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