According to the Quarterly Poultry Product Products Monitor released by the National Agricultural Marketing Council (NAMC), during the first quarter (Q1) of 2024, on a year-to-year basis, data obtained from the South African Revenue Service (SARS) indicates that South Africa imported 98 139 tons of chicken meat in quarter 1 of 2024, reflecting a decrease of 19.9% when compared to the 122 460 tons imported in quarter 1 of 2023.
The main products contributing to the observed decrease in chicken meat imports during Q1 were boneless chicken, which decreased by 71%, followed by frozen chicken leg quarters, frozen chicken feet and frozen chicken thighs, which decreased by 62%, 26% and 22%, respectively.
NAMC says that comparing quarter 1 of 2024 to quarter 4 of 2023, domestic producer prices for whole fresh chicken, frozen chicken, and IQF chicken pieces increased by 9.40%, 7.54%, and 2.54%, respectively.
The council said the recent trends in producer prices can be attributed to several factors.
“Notably, the recent drought incidents disrupted feed production in numerous places around the world which led to increased cost of certain inputs. For example, global maize export prices rose slightly in March due to logistical challenges in Ukraine, affecting feed prices in South Africa.
“When comparing retail prices per kilogram (kg) for the first quarter of 2024 to the first quarter of 2023, the price for whole chicken, non-IQF frozen chicken portions, fresh chicken portions (per kg), chicken giblets (per kg) and IQF chicken portions (2kg) increased by 8.63%, 8.01%, 7.12%, 6.03% and 2.54%, respectively.”
According to data provided by the Food and Agricultural Organization (FAO) of the United Nations, the average international poultry meat price index in the first quarter of 2024 stood at 107.86 points, marking a 1.9% decrease compared to the 109.93 points recorded in the fourth quarter of 2023.
NAMC adds that during the first quarter of 2024, the average spot price for a ton of yellow maize was R3 889, indicating a 12.09% decline compared to the corresponding period in 2023.
The average spot price was 0.78% lower than the fourth quarter of 2023. On the other hand, soybean prices declined to R8 352 per ton during the same quarter, reflecting a 21.95% decrease compared to the previous year and a further 9.77% decline compared to the preceding quarter (Q4 2023). While for sunflower, the average spot price stood at R8631 in the first quarter of 2024 representing a 20.50% and 4.64% decline respectively when compared to the first quarter of 2023 and the fourth quarter of 2023.
