March 9, 2020
Retail price of chicken in India drops to as low as US$1.35/kg amid coronavirus scare
Prices of chicken in India have drastically dropped as demand fell amid fears of the novel coronavirus. Fears have been aggravated by rumours that the disease can be transmitted through the consumption of chicken.
The Economic Times reported on Monday, March 9, that the wholesale price of chicken had dropped by as much as 70%, resulting in retail prices shrinking to Rs100-150 (US$1.35-2.03) per kilogramme from the previous Rs180-200 ($2.43-2.70).
Poultry raisers were losing Rs60 (81 cents) per chicken as it was being sold for just Rs20 (27 cents) in the market, whereas production cost was Rs80 ($1.08), according to Vijay Sardana, an agricultural economist and adviser of the Poultry Federation of India.
Giriraj Singh, Union Minister of Animal Husbandry, Dairying and Fisheries, said that the poultry industry was losing Rs1,500-2,000 crore ($202.42-269.8 million) daily.
A poultry feed company said that, sales having stalled, it has stopped buying corn, soybeans and other grains used in producing chicken feed, as per the report.
Sardana said the price of corn had come down by Rs7,000 ($94.50) per tonne.