Pakistan poultry prices up 40 percent on insufficient stock

Pakistan poultry products have increased in price by 30–40 percent in less than a week due to insufficient domestic supplies, according to a recent survey.
Chicken meat has increased to Rs 166 (US$1.70) per kilogram from Rs 110 (US$1.13) per kilogram since December 13 in the wholesale and retail market. Live chicken is currently being sold at Rs 250–260 US$2.57–US$2.67) against the previous week's rate of Rs 200 (US$2.05). Egg prices have increased from Rs 110 to Rs 130 (US$1.33) per dozen in the open market.
Minimum poultry rates had previously been fixed due to a stock surplus six months ago. "We have been forced to quit business as a number of poultry farms closed down due to facing immense financial losses," said Haji Jhangariz, a wholesaler and owner of a local poultry farm. He said that dealers have had to sell chicken at the prices fixed by the district administration for the last three to four months, and that because of those restrictions 50 percent of poultry farms have been closed down due to growing financial losses to the owners. "The closure of a large number of farms causes huge shortages of poultry products in wholesale and open markets," said Jhangariz.
High poultry feed prices and overall production costs have also made it difficult to lower prices and compete with other markets, according to farmers.