KARACHI: In a concerning development for consumers and the poultry industry in Pakistan, chicken prices likely to increase in the coming months.
This surge in prices is primarily attributed to the federal government’s ban on the import of genetically modified (GM) soybeans in October 2022.
Since the ban on GM soybean imports, chicken prices in Pakistan have surged by more than 35%. This significant price hike has left consumers grappling with the economic strain of higher food costs.
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Industry experts are warning that the situation may worsen in the coming months, with Khalil Sattar, the owner of K&N’s, predicting a substantial surge in chicken prices in 2024. The ban on GM soybeans, a key component of poultry feed, continues to disrupt the industry’s supply chain.
Another critical factor contributing to the poultry industry’s woes is the drastic reduction in annual imports of grandparent stock (GPs). GPs are essential for producing parent stock, which, in turn, leads to the production of broilers for consumption.
This year, Pakistan’s annual GP imports have plummeted from 267,000 birds to a mere 65,000. As a result, the country may face a staggering 76% reduction in broilers available for consumption compared to the previous year.
