April 27, 2021

 

Price rise expected for French foie gras due to soaring livestock feed costs


 

French foie gras producers' group CIFOG said a price rise for the gourmet food is expected over the coming year as producers look to pass on a 10% rise in costs due to soaring livestock feed costs and a recent bird flu outbreak in the country, Reuters reported.

 

Concerns over tight global supplies of grains have pushed its prices to new highs, with United States corn futures at its highest since June 2013. The French index for poultry feed has gone up 22% between January to March this year.

 

Foie gras producers have also been affected by restaurant and catering closures because of the COVID-19 pandemic and a bird flu outbreak in France that resulted in 3.5 million poultry culled, mostly ducks.

 

The increased costs also come up higher packaging prices related to rising demand for metal, carton, and plastic, said CIFOG.

 

Michel Fruchet, CIFOG chairman, said the increased prices will be passed on French Foie gras exports when importers will be permitted to bring in the gourmet product. Many countries banned poultry imports from France after bird flu was detected there.

 

He said the price inflation will steadily increase, stressing that the impact is low because of the small average volumes per capita.

 

- Reuters