2530% RISE IN CHICKEN PRICES LIKELY: ASSOCHAM
The prices of chicken have started soaring in many parts of the country and are expected to register an increase of 25-30% in wake of beef ban, according to an analysis by Assocham. The consumption is also likely to go up by 35-40%. “Poultry wholesale price index has also risen over 22% while that of beef and buffalo meat has declined about three per cent between May 2014 and March 2017,” noted the analysis carried out by Assocham Economic Research Bureau (AERB). Besides production of poultry meat, mainly chicken has been steadily growing at a compounded annual growth rate (CAGR) of about 10-12%, while its consumption has been clocking a CAGR of 15-18 per cent during the course of past few years. The Assocham analysis also noted that between June 2013 and May 2014, there was an increase in wholesale price levels of over 10% in beef and buffalo meat while that of poultry chicken declined by about nine per cent. “Beef ban and the related controversies have surely come as a blessing in disguise for poultry firms in states like Andhra Pradesh, Haryana, Karnataka, Kerala, Maharashtra, Punjab, Tamil Nadu, Telangana, Uttar Pradesh and other key regions in this behalf,” said an Assocham spokesman while releasing the findings of the chamber’s analysis. Apart from a sudden ban, “rising per capita incomes, growth in quick service restaurants are other key reasons for growing demand and consumption of meat in India,” said Assocham.