POULTRY NEWS

CHICKEN, EDIBLE OIL RATES PUSH SPI BACK UP 1.1PC

Spike in prices of chicken and edible oil and ghee made weekly inflation jump up 1.1 per cent week-on-week and 15.67 per cent year-on-year during the seven-day period ended March 24, dashing all hopes of some stability among the middle and lower middle income groups of the country. Pakistan Bureau of Statistics (PBS) data attributed the increase to rising prices of chicken (8.47 per cent). Chicken prices increased on the back of a spike in the cost of poultry feed as well as a rise in demand for the commodity due to curb on meat sellers for stopping the spread of lumpy skin disease in cattle. During the week under review, a kilo of chicken was sold for Rs302.08 on average, up Rs23.59 from last week’s Rs278.49/kg. The Pakistan Poultry Association (PPA) had demanded a subsidy on poultry inputs as well as a ban on corn exports from Pakistan last week. Also the PPA demanded withdrawal of 17 per cent tax on soybean, which a mainstay in poultry feed.