Beef ban may push chicken consumption, prices may go up by 30%: Assocham
The chicken prices in many parts of the country have started soaring and are expected to go up by 25-30 percent, and consumption may go up by 35-40 percent, an analysis in the wake of beef ban by industry chamber Assocham said here on Monday.
New Delhi: It is not so good news for all chicken eaters. The chicken prices in many parts of the country have started soaring and are expected to go up by 25-30 percent, and consumption may go up by 35-40 percent, an analysis in the wake of beef ban by industry chamber Assocham said here on Monday.
"Poultry wholesale price index has also risen over 22 percent while that of beef and buffalo meat has declined about three per cent between May 2014 and March 2017," said an analysis carried out by Assocham Economic Research Bureau (AERB).
Besides production of poultry meat, mainly of chicken, has been steadily growing at a compounded annual growth rate (CAGR) of about 10-12 percent, while its consumption has been clocking a CAGR of 15-18 percent during the course of past few years.
It also said that between June 2013 and May 2014, wholesale price levels of beef and buffalo meat rose by over 10 percent while that of chicken declined by about nine percent.
"Beef ban and the related controversies have surely come as a blessing in disguise for poultry firms in states like Andhra Pradesh, Haryana, Karnataka, Kerala, Maharashtra, Punjab, Tamil Nadu, Telangana, Uttar Pradesh and other key regions in this behalf," said an Assocham spokesperson.
The analysis stated that most of the respondents said though both poultry demand and prices usually drop during summer, it is not so this year due to ban on beef.