THE average farm-gate price of live broiler plunged nearly 30 percent to P46 per kilogram as the industry endures another glut worsened by dampened demand due to Covid-19, the United Broiler Raisers Association (Ubra) said.
The latest weekly price monitoring survey by Ubra showed that the average price of regular-sized broiler as of March 20 declined by P18.75 per kilogram from the P64.75-per-kilogram quotation on March 13.
“It is because of the low demand since a lot of establishments and restaurants close and there are no gatherings. Demand is soft,” Ubra President Elias Jose Inciong told the BusinessMirror.
The average farm-gate price of off-sized broiler fell 25.7 percent to P47 per kilogram from P63.25 per kilogram, while average quotation for prime-sized broiler declined 24.15 percent to P53 per kilogram from P69.88 per kilogram, Ubra data showed.
The dampened demand for broiler meat came at a worse time as raisers suffer another year of glut caused by higher local production and inventory of imported chicken meat.
Inciong explained that historically and seasonally, it is easier to produce broiler during the first quarter due to extended cool and low humidity, which are conducive environment for production.
Furthermore, broiler production is higher than normal during the period as hog raisers, particularly those affected by African swine fever (ASF), venture into the poultry business.
The inventory level for imported chicken meat is also elevated as traders brought in a higher volume to plug the shortfall in animal protein output as ASF cuts local pork output.
The country’s dressed chicken inventory in accredited cold storages as of March 2 was estimated at 56,521.45 metric tons, slightly higher than the previous week’s 55,684.86 MT, latest National Meat Inspection Service (NMIS) data showed.
NMIS data indicated that more than half of the inventory was comprised of imported chicken meat estimated at 35,870.38 MT while the remaining volume, which was locally produced, reached 20,651.07 MT.
Feed supply assured
In a statement on Tuesday, the Philippine Association of Feed Millers Inc. (Pafmi) assured local hog and poultry stakeholders there is sufficient animal feed supply to sustain their operations during the monthlong enhanced community quarantine.
“We, at Pafmi, reassure Filipinos that we have enough food for all and will continue to produce as much as needed for as long as needed and even more so in these challenging times. We should all be calm and trust in our own ability as a nation to be independent and self-sufficient,” it said.
“We are in constant dialogue with producers, manufacturers, processors, and distributors of meat and fish products to ensure that our operations are sustained,” it added.