Chicken prices to further increase
Key players in the poultry industry are anticipating the further increase in chicken prices in the coming month.
The price for soya bean meal, a key ingredient in chicken feed, is expected to further increase for the next shipment from the US to Guyana in August.
According to a representative of a large scale poultry company, since January consumers have been faced with increasing chicken prices and chicken shortage on the local market. These were as a result of high mortality among poultry and increasing demand for the product in the gold mining industry.
While these local factors were main contributors to the high prices consumers paid for chicken, poultry producers were faced with increasing prices for corn and soya bean meal. The representative pointed out that his company has substituted rice for corn to reduce their production cost.
But because soya bean meal is neither produced nor is there a substitute available in Guyana producers are forced to endure the high price on the US market.
The representative said poultry producers were informed that poor weather conditions in the US led to the price increases. It was suggested that countries around the world would also be affected by this price change.
Small scale farmers who have been able to access quality baby chicks are hoping to enjoy the price increase, which could reach $400 per pound but are worried about the cost for chicken feed.