High chicken rates continue to torment consumers

[Lahore_Real_Estate]

KARACHI: The chicken meat rates increased around 25 percent during 15 days of October, traders said Thursday.

During the last 15 days, chicken meat rates had surged to Rs 280 to Rs 285 per kg level while live chicken bird was available at Rs 168 to Rs 170 kg pushing the commodity beyond the buying powers of general consumers.

However, since Tuesday slight decline of upto Rs 10 per kg to Rs 15 per kg was registered in the price of chicken meat as it continue to hovering between Rs 265 to Rs 270 per kg while the live bird rates stood at Rs 154 to Rs 156 per kg.

Consequently an overwhelming majority of retailers and wholesalers complained of sharp decline in the demand, which was having adverse impact on their trade.

“In view of declining business volume, we are hardly able to manage daily overhead expenditures and it has gradually become difficult for chicken traders to continue their business anymore with low profit margin” claimed an chicken meat retailer in Hyderi area of North Nazimabad.

According to him the profit margin of all retailers, irrespective of high or low prices, usually remains same but ironically the extreme high prices factor, plays havoc with their business owing sharp decline in the demand of the commodity.

Number of customers has plunged to more than 25 percent, as consumers are reluctant to buy chicken meat at abnormal rates and they switched over to either fish or vegetable to cater their daily requirements.

He said unusual chicken rates also had negative impact on the demand factor as a result an overwhelming majority of retailers have reduced their daily purchasing requirements from poultry farms to more than 50 percent.

Abdul Maroof Siddiqui, convener of Karachi Wholesalers Poultry Association claimed the price factor would start normalising in next two to three weeks when fresh hatching of chicken birds will reach the markets.

He attributed current high rates of chicken meat on account of its widening demand and supply gap as the marriage season continue to push demand of the commodity.

Similarly fast food chains and other roadside hotels demand remains unaffected by the high price of the commodity as they continue buying the commodity as per their daily requirements.

Maroof termed frequent increase in chicken feed rates as one of the major compelling factor as recently around 4 percent increase was registered in its price by the manufacturers, which has multiplied overall cost of production.