The average farm-gate price of broiler fell 5 percent to P71 per kilogram due to the coronavirus disease 2019 (COVID-19) scare and the increase in poultry meat supply, according to the United Broiler Raisers Association (Ubra).
Data provided by Ubra showed that the average price of live broiler fell for the third consecutive week. The latest figure is also the lowest quotation for live broiler since the start of the year.
Ubra Chairman Gregorio F. San Diego Jr. said demand for broiler meat declined as business activities were slower due to the virus scare, referring to COVID-19. The confirmation of cases in the Philippines had discouraged consumers from frequenting malls and eating out.
Current broiler supply, which was already high due to the hike in imports and production, has continued to outpace demand, according to San Diego.
Despite the decline in farm-gate price, the price monitoring report of the Department of Agriculture (DA) indicated that the average retail price of dressed chicken in Metro Manila remained elevated.
The latest figures from the DA indicated that the average retail price of dressed chicken as of March 6 was at P148.37 per kg, slightly higher than the previous week’s P147.04 per kg.
The retail price of dressed chicken is more than double the prevailing farm-gate price of broiler, according to Ubra’s data. Also, current prices are higher by than the suggested retail price of P130 per kg set by the DA for dressed chicken.
Industry players told the BusinessMirror that the country is “overflowing” with broiler due to high imports. Inventory, they said, is swelling because of higher production from hog raisers who ventured into broiler production following the outbreak of African swine fever (ASF).
Certain cuts of chicken meat were sold at discounted prices in one supermarket visited by the BusinessMirror. Chicken leg quarter, thighs and drumsticks were priced at P135 per kg.
Ubra had warned that the Philippines could see a chicken glut this year due to the influx of new players, particularly those who have exited the hog business in the meantime due to the ASF scare.
The DA announced that broiler meat is a “priority alternative meat” for pork. Some Filipino consumers are avoiding pork after the outbreak of the fatal hog disease in farms in Luzon and Mindanao.
Image credits: Nonoy Lacza