In a surprising turn of events, chicken prices have taken a substantial nosedive by 30–40%, defying prevailing market trends. According to a recent report by The Economic Times, the cost of chicken has plummeted from its peak of ₹120/kg back in June, now averaging at ₹ 80/kg at the farm gate. This unexpected decline stands in stark contrast to the upward trajectory witnessed in the prices of vegetables and pulses.
Notably, chicken has emerged as the lone major food commodity displaying negative inflation rates during this period. Despite the usual dip in chicken consumption observed annually during Sawan, this year’s impact has been particularly severe. Market experts attribute this unprecedented price fluctuation to a cascade of factors.
Gulrez Alam, the Secretary General of the All-India Poultry Breeders Association, shed light on the situation, indicating that the drastic drop in chicken prices began in July, when rates at the farm gate plunged by nearly 50%, settling around ₹ 55–60/kg after reaching a pinnacle of ₹120/kg in June. Consequently, farmers responded to the situation by scaling down their bird production. This decrease in supply has played a pivotal role in driving up prices once again, now averaging at ₹80/kg.
While fluctuations in commodity prices are not uncommon, the chicken market’s departure from the expected trajectory has raised eyebrows across the industry. Observers are keeping a keen eye on further developments to understand the underlying causes of this substantial dip and subsequent recovery.