Business Environment Profiles - Australia
Published: 30 August 2024
Domestic price of poultry
121 Index
2.5 %
This report analyses the domestic price of poultry. The domestic price is measured by an index of prices paid by domestic consumers for poultry products. The index is an annual average of quarterly data sourced from the Australian Bureau of Statistics and is measured in points. The index base year is 2011-12 and has a base value of 100 points.
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IBISWorld expects the domestic price of poultry to fall by 1.3% in 2024-25, to 120.7 index points. Rising beef and sheep meat prices and tightened consumer budgets have supported robust demand for poultry. Despite healthy demand, reduced coarse grain prices and other input costs have allowed poultry farmers and processors to stay competitive by lowering their prices amid intense competition, which is expected to drive a downward trend in the price of poultry the current year.
Poultry is the most consumed meat in Australia and poultry meat consumption has grown over the past five years. Per capita poultry consumption is estimated to total 50.3 kilograms in 2024-25. Increasingly health-conscious consumers have opted for poultry meat as a leaner source of protein instead of red meats like lamb, beef and veal. Elevated beef prices amid the cost-of-living crisis have weakened domestic beef and veal consumption over the past few years. These trends have encouraged consumers to choose poultry, supporting both consumption and prices.
Given the rising popularity of chicken and other poultry meat, the major supermarkets have turned their attention to these products to drive consumers instore through low prices. However, input costs, including coarse grain and energy prices, spiked over the two years through the end of 2022-23 and placed upward pressure on the domestic price of poultry over the past few years. More recently, intense competition with poultry substitutes, like beef and sheep meat and falling input costs have allowed the domestic price of poultry to start coming down. Overall, IBISWorld expects the domestic price of poultry to increase at a compound annual rate of 2.5% over the five years through 2024-25.
IBISWorld forecasts the domestic price of poultry to rise by 2.3% in 2025-26, to 123.5 index poin...
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