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October 17, 2011

Thai Broiler Weekly: Chicken prices sustained by European demand (week ended Oct 13)

An eFeedLink Exclusive
 

Price summary
 
Rising broiler demand from Europe has kept domestic chicken prices strong, despite a slowdown in local consumption caused by massive flooding in the country's central plains.
 
In Bangkok, which faces widespread inundation from overflowing provincial dams, days of panic food buying have triggered a small surge in chicken prices at premium retail outlets.
 
Overall, broiler trading has been stable throughout the week, with ex-farm prices holding firm at THB41-43/kg in Northern Thailand. In the Northeast region, live birds are being traded at THB35-38/kg, the same price as last week.
 
Prices in the central, western and eastern provinces also remain unchanged at THB37-41/kg. So are prices in Southern Thailand where live chicken has been selling for THB45-50/kg for the past weeks.
 
 
Market analysis

Despite the current flooding, Thailand's broiler exports have been on the rise, especially during the third and last quarters of the year. Traditionally, poultry demand in Europe is at its peak two to three months before the Christmas and New Year holidays.
 
Major Thai exporters are reporting better-than-expected overseas sales during the last few months, despite the worsening credit crisis in Europe, Thailand's main chicken market.
 
Betagro, one of Thailand's largest agribusiness groups, expects to see its 2011 revenue reaching THB60.5 billion (US$1.94 billion), up 20% from last year.
 
Another major chicken exporter, GFPT, expects its income to be 10-15% higher this year due to strong third-quarter sales.
 
Jutamas Ingpochai, GPFT investor relations manager, said that although they had scaled down their export targets this year amid economic slowdowns in Japan and Europe, export orders during the third-quarter of the year exceeded their expectations.

She said GPFT expects export sales during the second half of 2011 to be a little less than those of the first half in terms of volume. In terms of value, however, they expect an increase of 10-15% due to higher international chicken prices.
 

Markets

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

Prices for whole dressed chicken
as of  October 13(in Thai baht/kg)

Changes
(in Thai baht/kg)

Supermarkets (Bangkok)

130-135

135-145

+5.00-10.00

Public markets (Bangkok)

75-85

75-85

--

Public markets (Suburbs)

70-80

70-80

--

Farm gate 

44(Liveweight)

44

--

US$1=THB 30.68 (October 17, 2011)

 

 
 
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