International Agriculture News

Philippine broiler prices drop 30%

Farm prices of broilers in the Philippines fell 30% in the week of August 24 from two weeks earlier, the latest weekly price survey of the United Broiler Raisers Association (UBRA) showed.

Average farm price of prime chicken topped USD 1.93/kg in the week of August 10, but has since fallen to USD 1.34/kg. UBRA President Elias Jose Inciong told Asian Agribiz that the fall in prices is dictated by supply and demand.

“It normally goes down by this time of the year and was only delayed by the low supply of fish.” He added that the industry will be in an “up and down journey, but it will be more down than up” based on the industry’s 5-year historical data.