Lanka sees higher chicken meat demand, strong supply reduces eggs prices

ECONOMYNEXT - Sri Lanka has seen stronger demand for processed chicken leading a higher prices for day old broiler chicken, a top poultry group said, while farmers reduced layer chick purchases as egg prices dropped.

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“The Group recorded higher revenue during the quarter under review, primarily driven by stronger demand for Broiler Day-Old Chicks (DOCs) and continued growth in processed chicken sales,” Three Acre Farms, a unit of Sri Lanka’s Ceylon Grain Elevators said.

“However, increased volatility in table egg prices caused by market oversupply has led to a decline in demand for Layer DOCs.

“Group profitability improved significantly during the quarter, largely attributable to higher average selling prices of Broiler DOCs.”

A pick up in tourism has also increased chicken demand, the firm said.

In Sri Lanka, especially after 1978, food prices — or any other price — that go up do not usually come down due to central bank’s inflationism, cemented by currency depreciation.