Connect with us

Hi, what are you looking for?

News

Higher costs holding back chicken production













PHILSTAR

CHICKEN production growth was at the lower end of the expected range in the second quarter as poultry farmers grapple with higher production costs, an industry official said.

“The usual growth for the poultry sector is 3% to 7% a year. The 3.3% posted for the second quarter is at the low end of the range. It’s not a big deal in term of achievement but a cause for concern,” United Broiler Raisers Association President Elias Jose M. Inciong said.

The Philippine Statistics Authority (PSA) reported last week that chicken production rose 3.3% to 477.76 thousand metric tons on a liveweight basis.

The factors affecting production intentions, Mr. Inciong said in a phone interview, are the higher cost of inputs.

“The cost of production is high, because the raw materials for feed remain costly,” he said.

He added that feed ingredients like corn, soya, and feed wheat were at record levels, while coconut oil remained expensive.

Additionally, Mr. Inciong said competition from imports was also discouraging domestic producers.

In the seven months to July, imports of chicken rose 17.4% to 249.37 million kilos, accounting for about 35% of all meat imports during the period.

Philippine Chamber of Agriculture and Food, Inc. President Danilo V. Fausto said in a Viber message that the farmgate price of chicken needs to rise to encourage farmers to produce more.

For the second quarter, the farmgate price of chicken averaged P134.13 per kilogram, up 2.4% from a year earlier.

 As of June 30, the PSA said the national chicken inventory rose 2.8% from a year earlier to 200.21 million birds.  — Adrian H. Halili

Neil Banzuelo




Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

PHILIPPINE Statistics Authority AIRCRAFT pilots, software developers, and mathematicians were among...

News

A NON-FUNGIBLE TOKEN (NFT) is displayed on the website of NFT...

Editor’s Pick

<?xml encoding=”utf-8″ ?????????> Simon Hughes – VP and General Manager for the UK arm of Cowbell, a leading cyber insurance provider for SMEs –...

Editor’s Pick

<?xml encoding=”utf-8″ ?????????> The government’s borrowing bill was lower than expected last month as falling inflation and bumper tax revenues helped improve public finances....

Editor’s Pick

<?xml encoding=”utf-8″ ?????????> Watford is to become the unlikely new home for Batman and Superman after Warner Bros confirmed that it is to go...

News

In photo, standing from left to right: Atty. Marlon Morada, First...

You May Also Like

Financial Advisors

[#item_full_content]

Financial Advisors

[#item_full_content]

Financial Advisors

[#item_full_content]

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.