|Australian Chicken Meat Prices Expected to Rise
Chicken is by far the most affordable meat protein. The price has been kept low by passing on to consumers the benefits of substantial efficiency gains in all areas of chicken meat production. In fact, in real terms, the price has fallen by 75% since 1960. In other words, if the price of chicken had kept up with inflation over the past half a century, we would now pay 40 dollars for a whole fresh chicken rather than 10 dollars .
“Now, a point has been reached where prices will have to increase for the industry to remain profitable and able to meet the increased demands for its products”, says Dr Andreas Dubs, Executive Director of the Australian Chicken Meat Federation. The World Bank reports that “since mid-June, global grain prices have been rising with a 56% rise in global wheat prices and knock-on impacts on other commodities such as rice, maize, and sorghum”. Australia is by no means immune to these increases.
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