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Wednesday, July 23, 2014
Peru’s poultry sector to grow 5 percent in 2014, Scotiabank says
Buoyed by several phenomena, the Peruvian poultry sector will experience a growth of 5 percent in 2014. The estimate was made by Scotiabank and published in the journal Gestión, which specializes in economic issues.
Among the factors taken into account by the bank are "improving incomes of the population and the strength of consumption outside the home, taking into account the increased presence of restaurants and chicken outlets (or points of sales)."
And likewise, "the increase in the marketing of products with higher added value and longer shelf life, partly taking advantage on the fact that there are many more supermarkets as well as the high price of substitute products such as beef and pork, and unstable supply of other low-price proteins as fresh fish, which depends on normal weather conditions."
The retail price of chicken meat, so far in 2014, recorded a significant decline in May and a slight recovery since June. Scotiabank projects this value will remain at least stable, due to increased production in the second half of the year and relative stability in the price of key industry feed ingredients like corn. Large crops of this grain are expected in the United States, European Union, Russia and Ukraine. "The average price of corn will reach $187 per metric ton, priced below $235, which was paid in 2013," the bank stated.