Thailand’s chicken production will grow by 3% in 2023
Thailand’s chicken meat production will increase for the rest of 2022 and the upcoming one. The USDA annual poultry and […]
Thailand's chicken meat production will increase for the rest of 2022 and the upcoming one. The USDA annual poultry and products report indicated that chicken meat production will grow by 2% in 2022 and 3% in 2023.
Like other countries, Thailand's chicken market is recovering from the pandemic and the impact of the grain prices caused by global supply and trade disruption from the Ukraine and Russia war, and meat production only increased by 1% for the first semester of 2022.
The following factors have been critical for the market:
- As a result, average prices of feed grains increased 26 percent in the first seven months of 2022.
- Domestic prices of corn and soybean meal increased 29 and 24 percent, respectively, from the same period last year.
- Prices of day-old chicks in the first half of 2022 increased significantly by 60 percent from the same period last year.
Post estimates that production costs of broilers increased 27 percent in the first seven months of 2022 due to surging prices of feed grains and day-old chicks.
This report indicated that the good results expected for 2022 are due to:
- The gradual return of foreign tourists during the second semester
- Exports will increase by 3% more compared to 2021 for a total of 935,00 metric tons exported at the end of the year
- Benefits on exports to neighboring countries (i.e., after Malaysia banned cooked and uncooked chicken meat exports on June 1, 2022, will drive the growth in exports)
In 2023, the government expects around 20 Million foreign tourists to increase the demand for chicken meat. However, this is a low number compared to the tourists arriving before COVID. Therefore, the consumption growth rate will keep below the pre-pandemic average annual growth rate of 5-6 percent.
Also, industry sources anticipate that the tight supplies of grandparent and parent
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