Moderately positive year forecast for global poultry industry

Lower production costs are expected to lead to more affordable chicken prices, which will boost consumption in 2024 . This forecast marks a recovery from the 1.1% growth seen in 2023. The main growth regions are forecast to be Southeast Asia, the Middle East and Latin America.

Rabobank analysts note that producers must balance supply growth with relatively slow demand growth, especially in the US , Thailand, Indonesia, CHINA and the European Union, which are facing oversupply issues.

Rabobank stressed that consumers will remain price sensitive due to the weak economic context, forcing manufacturers to offer affordable products through price -conscious channels .

Feed costs are expected to decline slightly in 2024, but global geopolitical issues and weather events such as the Ukraine NWO and the Middle East conflict could still impact the market, along with feed pricesoil and gas.

Despite the slowdown in global trade growth, Rabobank expects trade to continue to expand, especially in raw chicken. The market is forecast to gradually recover due to rising consumer spending in key markets such as the EU , UK and US.

The report also acknowledges the potential impact of avian influenza on the poultry market in 2024. The disease has already impacted production and trade in the US and Europe, and cases are now being reported on commercial farms in North America and Europe.