March 13, 2024

Chicken surpasses lamb in value for the first time in Australia

For the first time in Australia, the value of chicken meat has surpassed that of lamb, marking a significant shift in the country's meat market dynamics, Australian Broadcasting Corporation reported.

According to the latest data from the Australian Bureau of Statistics (ABS), poultry slaughter saw a marginal increase of 0.02% in the December quarter, reaching AUD 999.8 million (US$661 million), while lamb and sheep meat experienced a notable decline of 7.6% to AUD 883.5 million (US$584 million).

Rob Walter, head of agricultural statistics at ABS, attributed this change to last year's volatile lamb market and a consistent upward trend in the value of chicken meat.

The drop in lamb prices, with reports of sheep being sold for as low as AUD 1 (US$0.66) each, contributed to the decline in overall value, despite slow adjustments in supermarket prices.

In contrast, the price of poultry has remained relatively stable, reflecting a more controlled supply chain and greater market stability compared to sheep and lambs.

While lamb roasts are currently priced between AUD 10 – AUD 14 (US$6.61 – US$9.26) per kg in major supermarkets, chicken breast sells at AUD 11 (US$7.27) per kg in delis, with roast chickens at AUD 4.50 (US$2.98) per kg.

Mary Wu, chief executive of the Australian Chicken Meat Federation, noted that the slight increase in the value of chicken underscores the industry's reliability and growth.

Wu said with every Australian consuming around 50 kg of chicken meat per year, the industry is focused on ensuring consistent supply to meet this demand.

Despite recent recommendations for new standards of practice in the poultry industry, Wu believes that these changes are unlikely to affect supermarket prices or the overall value of chicken meat, as the industry has already invested in the necessary infrastructure to comply with potential legislative alterations.

-      Australian Broadcasting Corporation