Chicken meat prices see significant drop

LAHORE: The price of chicken in the country especially in Punjab in particular has seen a sharp decline in the past three days, as consumers have reduced their demand for poultry products.

The per kilogram price of broiler chicken meat in Lahore fell by Rs12 on Wednesday, reaching Rs498 per kilogram.

The price of live broiler chicken also dropped by Rs8 to Rs332 per kilogram, and farm eggs saw an Rs18 reduction, settling at Rs285 per dozen.

According to poultry farmers, the drop in prices is due to low consumption and high supply of chicken in the market.

In 2023, Pakistan witnessed significant fluctuations in chicken prices, driven by various factors affecting the poultry industry. These price changes had notable impacts on consumers, businesses, and the overall economy.

Pakistan’s weekly inflation soars further

At the beginning of the year, chicken prices were relatively stable, with broiler chicken meat being sold at an average price of around Rs350 to Rs380 per kilogram in various regions of the country. However, as the year progressed, several factors contributed to the price hike.

One of the major factors impacting chicken prices was the rise in feed costs. Fluctuations in global grain prices, coupled with domestic supply chain issues, led to increased expenses for poultry farmers. This, in turn, pushed them to raise chicken prices to maintain profitability.

Additionally, government policies and regulations, such as quality control measures and restrictions on imports, also influenced chicken prices. These measures aimed to ensure food safety and protect domestic producers but had the unintended consequence of affecting supply and demand dynamics.

Throughout the year, chicken prices experienced periodic spikes, often followed by brief periods of price reduction. Consumers faced challenges in budgeting for poultry products due to this unpredictability.

Overall, the year 2023 was marked by fluctuating chicken prices in Pakistan, influenced by factors like feed costs, government regulations, and supply chain disruptions. These fluctuations had significant repercussions on both consumers and the poultry industry.