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November 7, 2008)
 
Thai Broiler Weekly: Spike in corn prices lift broiler prices (week ended Nov 6, 2008)           
 
An eFeedLink Exclusive  
 
  
Price summary
 
The farm price of chicken rose by THB2 /kg this week following a spike in feed corn prices, although there has not been any noticeable change in poultry meat prices at public markets so far.
 
The current farm-gate price of broilers, according to the Internal Trade Department, is THB31-32/kg, up from last week's THB29-30/kg.
 
Feed corn prices jumped to THB8:50-8:63/kg early this week from THB7.58-7.72/k a week before after the government said it would soon announce a scheme that would guarantee the price of corn at no less than THB8.20 per kg.
 
 
Market analysis
 
An aide of Prime Minister Somchai Wongsawat has revealed that the Cabinet has approved in principle a mortgage scheme by which the government would buy corn, poultry's main feed ingredient, from farmers at between THB8.20 and THB8.50 per kg.
 
Local corn prices hit a record high of THB12/kg mid this year at the height of the recent oil crisis when tonnes of feed grains were converted into biofuel around the world as oil soared to as high as US$140 a barrel. They steadily dropped following recent declines in oil prices.
 
At public markets, there has not been any change in chicken meat prices during the last few weeks, according to market vendors. They however expect minor upward adjustment in the next few days following the THB2/kg increase in the farm price of broilers.
 
Chicken demand, they said, had also gone up following a spike in pork prices. At wet markets, pork sells at THB105-110/kg while dressed chicken sells at only THB58-60/kg.
 
Last month, while the price of live chicken plummeted to THB23/kg, the price of pig shot up from THB53 to THB56-57 per kg.
 
Chicken prices have been falling consistently since May owing to overproduction, currently estimated at 18-19 million head a week from 15 million a week at the start of the year.
 

Markets

Prices
for whole dressed chicken

as of 
Oct 30
(in Thai baht/kg)

Prices
for whole dressed chicken

as of  Nov 6
(in Thai baht/kg)

Changes
(in Thai baht/kg)

Supermarkets (Bangkok)

64-66

64-66

0

Public markets (Bangkok)

58-60

58-60

0

Public markets (Suburbs)

55-58

55-58

0

Farm gate 

29-30 (liveweight)

31-32 (liveweight)

2

US$1=THB 34.975 (Nov 7)


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