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November 9, 2011

Thai Broiler Weekly: Farm price of chicken up on strong foreign demand (week ended Nov 3)
 
An eFeedLink Exclusive
 
 
Price summary

Chicken meat supply and prices remain stable despite Thailand's continuing flood crisis, although the farmgate price has increased to THB46/kg on strong overseas demand.

At retail outlets in Bangkok, chicken meat prices are unchanged for some time now, although prices of other food items, such as eggs, noodles and canned goods, have escalated due to panic buying.

Fresh meat has been spared by panic buyers because of anticipated storage problems. Power is off at the first sign of flooding, so are refrigerators.
 

Market analysis

Analysts expect prices to increase before the year ends because of strong overseas demand and tight supply.

Kukrit Arepagorn, manager of the Thai Broiler Processing Exporters Association, says there has been a rush of orders from foreign buyers who want to make sure future Thai chicken deliveries won't be disrupted by the current flooding.

He says advance orders have been booked for delivery as far ahead as the third quarter of next year, adding that "although most broiler farms have seen no impact from the floods, buyers are still concerned about logistics and shipment delays." Most orders come from Japan and the EU, the two biggest importers of Thai chicken products.

An analysis by GFPT, one of the country's leading chicken exporters, which it sent to its investors recently, says chicken prices would rebound after the flood, as they did shortly after the flooding in northern and southern Thailand early this year.

GFPT analysts, however, expect the ex-farm price of chicken to be within the THB45-48/kg range, not as high as THB/55, as it did last May. While the current flooding is considered Thailand's most destructive disaster in half a century, its damage toll to the local broiler industry has been limited.
 
Kukrit says three chicken production plants in Pathum Thani and Thon Buri have been hit by floods, but most other processing plants are operating normally.

The floods, which have submerged about 30 provinces north and west of Bangkok, have so far spared the east and the northeast, where big chicken producers and exporters such as GFPT, CPF, Betagro, Saha Farms and Cargill are located.
 

Markets

Prices for whole dressed chicken
as of  Oct 27(in Thai baht/kg)

Prices for whole dressed chicken
as of  Nov 3(in Thai baht/kg)

Changes
(in Thai baht/kg)

Supermarkets (Bangkok)

135-145

135-145

--

Public markets (Bangkok)

75-85

75-85

--

Public markets (Suburbs)

70-80

70-80

--

Farm gate 

44(Liveweight)

46

2.00

US$1=THB 30.65 (November 9, 2011)

 


 
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