Rising oil prices hurting Thai chicken sector
Since April, soaring petrol prices – expected to top 30 baht (US$0.78) per litre – are hurting the chicken industry, says Thai Broiler Processing Exporters Association.
The Association has reported an overall increase of 30-40% in production costs and a 10-15% increase in transportation and electricity charges, resulting in an overall drop in local consumption as consumers, troubled by rising interest rates, try to make ends meet. So far, the effect on exports has been limited but the possibilities are there and very real, according to Association executives.
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