Chicken price will continue to rise in 2022

In December 2021, the chicken price peaked at $2.74 per kg, gaining 17% from a month earlier. The average annual price is forecast to rise from $2.26 per kg last year to $2.30 per kg in 2022.

According to a recently published report from IndexBox, the average annual chicken price grew by 38% y-o-y to $2.26 per kg in 2021. Rising feed costs combined with high logistical expenditures are pushing meat prices up. Global production remained stable compared to 2020’s level of 120M tonnes.

Although global chicken meat production is projected to rise to 121M tonnes this year, the prices are set to increase, propelled by boosting demand. In 2022, the average annual chicken price is forecast to gain 2% y-o-y to $2.30 per kg. An expected decline in the cattle herd, especially in the EU and the US, is set to drive the demand for beef substitutes, including poultry.

Top Leading Chicken Meat Exporters Worldwide

In 2020, chicken meat exported worldwide expanded rapidly to 15M tonnes, surging by 5.6% compared with the year before. In value terms, supplies contracted to $21.9B.
Brazil (3.9M tonnes) and the US (3.5M tonnes) are the leading suppliers in the global chicken market, reaching approx. 25% and 23% of global exports, respectively. The Netherlands (1.4M tonnes) takes a 9.2% share (based on tonnes), which puts it in second place, followed by Poland (8%). The following exporters – Turkey (517K tonnes), Belgium (503K tonnes), Ukraine (429K tonnes), the UK (411K tonnes), Thailand (344K tonnes), Germany (301K tonnes), Russia (280K tonnes) and France (227K tonnes) – together make up 20% of the total volume.

In value terms, Brazil ($5.5B), the US ($3.4B) and the Netherlands ($2.5B) appeared to be the countries with the highest levels of exports in 2020, together comprising 52% of global exports. Poland, Thailand, Belgium, Ukraine, Germany, Turkey, France, Russia and the UK lagged somewhat behind, accounting for a further 30%.

Top Leading Chicken Meat Importers Worldwide

In 2020, China (1.5M tonnes), followed by Mexico (767K tonnes), were the largest importers of chicken meat, accounting for 17% of global imports. The Netherlands (542K tonnes), Japan (535K tonnes), Germany (515K tonnes), the United Arab Emirates (480K tonnes), Hong Kong SAR (462K tonnes), South Africa (460K tonnes), Iraq (429K tonnes), France (387K tonnes), the UK (377K tonnes), the Philippines (315K tonnes) and Cuba (267K tonnes) occupied a relatively small share of total international purchases.

In value terms, China ($3.4B) constitutes the largest market for imported chicken meat worldwide, comprising 16% of global imports. The UK’s second position in the ranking was ($1.2B), with a 5.5% share of total purchases. It was followed by Germany, with a 5.4% share.

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Tags: Brazil, UK, prices, France, Poland, Belgium, Thailand, chicken, Ukraine, Germany, Russia, Netherlands, Turkey