UTRECHT, THE NETHERLANDS — While the global poultry industry has undergone several months of slow growth, according to a recent Rabobank report, improved demand and lower costs are expected to come in the fourth quarter of 2023 and in early 2024.
Global poultry market growth in 2023 will likely only improve by 1.2% — well below the 2.5% historical average per year — but Rabobank said the market will still be well positioned for the new year.
“After a period of slow poultry consumption growth due to a weak global economy and rising prices resulting from cost increases, global demand has room for some recovery,” said Nan-Dirk Mulder, senior analyst of animal protein at Rabobank. “This is driven mainly by lower feed costs and, therefore, lower chicken prices. Poultry should be able to benefit from its relatively competitive pricing in many markets compared to other proteins…
