Rabobank: Global poultry markets are bullish

The latest RaboResearch report presents a positive outlook for global poultry markets, with consumption growth expected to accelerate to 2.5-3% in 2024. This growth is supported by lower production costs and a strong demand recovery, keeping most markets profitable except for China and Japan, which are dealing with oversupply issues. Global trade is anticipated to expand despite some volatility, driven by strong demand in Europe and Asia. However, risks such as animal diseases and geopolitical tensions could disrupt trade flows. The report highlights the need for disciplined supply growth to prevent oversupply.

According to the latest animal protein report by RaboResearch, the outlook for global poultry markets is bullish, driven by accelerating consumption growth in in many markets. After several years of slow growth, global poultry consumption is forecast to reach 2.5-3% in 2024, marking a return to historic levels. Global poultry markets are performing well due to lower production costs and solid demand recovery in most markets. Nan-Dirk Mulder, senior analyst of animal protein at RaboResearch, says: “Poultry’s strong price position against other proteins in most markets, along with strong retail demand, recovering foodservice demand, and rising sustainability strategies that support chicken demand are supporting rapid growth.” Most poultry industries worldwide have remained relatively profitable, with rising prices in many cases. The main exceptions are China and Japan, which continue to suffer from local oversupply. Fast production growth, in combination with more challenging local ...