The price of poultry in 10 years
Recent headlines worldwide have highlighted the global food crisis and how
people are struggling more and more to pay for basic food products. The poultry
industry has been hit hard.
It is feared and reported that it is likely that price of food items will
continue to increase in the years to come. Times Online reports what food prices
may look like in 10 years' time.
There is likely to be a significant price increase in this protein.
Chicken, as a 100% grain-fed animal, is at the mercy of soaring grain prices,
which have increased 50% in the past 6 months. The rise is in response to
factors such as drought in Australia, the rise in affluence encouraging
increasing numbers of consumers in the developing world to eat meat, and crops
being grown for biofuels rather than food. As 60% of the cost of a chicken is
its feed, grain will have a significant impact on what we pay.
In the past 9 months the price of eggs has increased
by 34% in the UK, as they are equally dependent on rising grain prices as chicken feed. The pattern will
continue, according to Giles Oldroyd, at the John Innes Centre, an independent, international
centre of excellence in plant science and microbiology in the UK. He claims
that the practice of intensively rearing chickens will continue, but that the
days of the Â£2 chicken are over.
According to Mintel research, the growth of the
readymeals market has slowed over the past few years, due to growing health concerns.
This is expected to continue. However, processed foods will have an easier time avoiding
price increases. â€œWhat you're paying for is mostly packaging, transport, marketing, freezing
and other things,â€ says Evan Fraser, a senior lecturer in
sustainable development at Leeds University, UK. â€œThe raw ingredients are only a
fraction of the overall cost.â€ If they go up, the increase can be absorbed by
cutting costs in other stages of the supply chain.
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