JOIN USBeef ban boosts chicken sales, says Assocham
In the wake of the beef ban, the price of chicken in many parts of the country have started soaring and are expected to register an increase of 25 to 30%. The consumption may go up by 35 to 40 %, an Assocham study said.
“The poultry wholesale price index has risen by over 22%, while that of beef and buffalo meat has declined by about 3% between May 2014 and March 2017,” the analysis said.
The production of poultry meat, mainly chicken, has been steadily growing at a compounded annual growth rate (CAGR) of about 10-12%, while its consumption has been clocking a CAGR of 15 to 18% over the past few years.
The findings also noted that between June 2013 and May 2014, there was an increase of over 10% in the wholesale price levels of beef and buffalo meat, while that of chicken declined by about 9%.
“The beef ban and related controversies have surely come as a blessing in disguise for poultry firms in states like Andhra Pradesh, Haryana, Karnataka, Kerala, Maharashtra, Punjab, Tamil Nadu, Telangana and Uttar Pradesh and other key regions,” said an Assocham spokesman, releasing the findings.
Apart from the ban, “rising per capita incomes and growth in quick service restaurants are other key reasons for growing demand and consumption of meat in India”. it said.
“India also provides a huge opportunity for foreign direct investment in poultry, especially in areas like breeding, medication, feedstock, vertical integration and processing, as these areas should also be exploited,” it recommended.