November 15, 2022
Farm gate prices of chicken and eggs and in the Philippines decline
Gregorio San Diego, chairman of the United Broilers and Raisers Association (UBRA) and Philippine Egg Board Association said farm gate prices of chicken have dropped to PHP 92 (~US$1.61; PHP 1 = US$0.017) from PHP 99 (~US$1.73) per kg, and eggs have declined to PHP 6 (~US$0.10) per piece, despite retail prices reaching an all-time high, The Manila Times reported.
He said the low farm gate prices have an impact on producers of eggs and poultry. The going rate was between PHP 92 (~US$1.61) and PHP 99 (~US$1.73) per kg as of last week. The same holds true for eggs. At the farms, the cost of an egg is less than PHP 6 (~US$0.10) per piece, despite the fact that the retail price of eggs is at least PHP 7 (~US$0.12) to PHP 9 (~US$0.16).
San Diego said that because of their predicament, many broilers were forced to shut down or lower output.
He said at least PHP 44 (~US$0.77) is required for each chick, and occasionally the quality is subpar. Farmers’ per kg production costs range from PHP 100 (~US$1.75) to PHP 115 (~US$2.01), so they are experiencing losses.
He also said that the local broilers had also been impacted by the influx of frozen imported chicken. At least 55 million kg of chicken are currently stored in various cold storage facilities. The illegally imported frozen chicken is not included in this data. 33 million kg of the 55 million kg of chicken stock are imported.
With the rise in demand as Christmas approaches, local broilers typically profit. However, due to the decline in farm gate prices, this will not be the case this year, he said.
He said that because of the high retail prices, egg consumption also decreased, adding that as a cheap source of protein, cutting back on eggs is one indication that consumers are strapped for cash.
San Diego said that the demand for chicken for institutional buyers decreased by 30%.
He said President Ferdinand "Bongbong" Marcos Jr.'s pledge to turn the nation into an agricultural hub during his first State of the Nation Address (SONA) were broken by the influx of imported frozen meats.
- The Manila Times