Australian chicken prices set to increase
Rising food prices are about to take another hit with the cost of chicken meat expected to increase 20-30% from November.
According to the Australian Chicken Meat Federation, escalating feed-grain prices, which have doubled in the past year, and rising fuel costs makes the increase inevitable.
Feed makes up approx. 60% of the cost of producing chicken meat, and according to the Federation, there is no substitute for grain.
“With the unprecedented rise in the cost of grain, chicken producers are finally being forced to pass on these costs to the consumer,” said executive director Andreas Dubs, adding that the forthcoming price increase is “simply inevitable”.
The price rise is expected to take effect in mid-November and will affect all chicken meat, from whole chickens to processed products.