Australia: pork and poultry industries have experienced a boost over the past year
Source: Stock Journal
05 June 2012
Australia's pork and poultry industries have experienced a boost over the past year, buoyed by the higher prices for beef and lamb as well as improving productivity and relatively low feed costs, according to National Australia Bank’s (NAB) May Rural Commodities Wrap.
Per capita poultry consumption is estimated to reach 45.2 kgs in 2011-12. While down on 2010-11 levels, it’s well above 38kgs recorded in 2009-10 and is expected to continue to grow to 45.5 kgs in 2012-13.
"We’re seeing poultry farmers increase production to meet this rising demand, despite some farmers experiencing a rise in processing costs and concerns around the potential for grain prices to increase,” Khan Horne (NAB’s General Manager of Agribusiness) said .
Real consumer prices for poultry have fallen 1.9 per cent a year on average over the last decade, according to ABS CPI data.
“In the medium term we’re likely to see a fall in consumer prices as domestic production increases,” Mr Horne said.