23 Aug Chicken to become cheaper as soya meal prices likely to fall

Kolkata: Chicken is set to become cheaper in the domestic market as the price of soya meal, a key poultry feed, is expected to ease off on increased availability. Industry executives said soya meal exports plunged 75.7 per cent year-on-year in May as shipments to Iran fell sharply because of the US sanctions. This has increased supply of soya meal in the domestic market, which in turn is expected to push its prices down. Soya meal constitutes 45 per cent of the poultry feed. “Since, the soya meal availability has increased in the market, prices too will fall,” Madan Mohan Maity, secretary at West Bengal Poultry Federation, told ET. “This will bring down chicken prices by 10 per cent. We are hoping price of chicken to decline from end June.” Retail chicken prices soared nearly 30 per cent to Rs 220 per kg in May from Rs 170 in January. But Amit Saraogi, managing...