Poultry Prices To Be Flat by 1%, South Africans Skeptic: “Not These Thieving Retailers”

• Absa's AgriTrends report revealed that the price of poultry was expected to be eased after a two-year consistent hike
• AgriTrends reported that the rand's continuous strengthening and growth in the sector could result in poultry prices being flat by 1%
• South Africans were sceptical, and many did not believe that retailers would decrease the prices accordingly

Tebogo Mokwena, Briefly News's current affairs journalist, covered current affairs relating to the economy, finance, banks, and state-owned enterprises during his seven years at Daily Sun and Vutivi Business News.

JOHANNESBURG—Absa has revealed that the rand's performance and the growth in the poultry sector could result in cheaper poultry products.

Absa reveals possible cheaper chicken

According to IOL, Absa's AgriTrends report revealed that the price of poultry products could be flat by 1%. Absa's senior economist, Dr Marlene Louw, said lower feed prices could result in improved margins, which might keep prices stable for the medium term.

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Louw said the recent Avian Influenza outbreak caused a shortage of poultry worldwide. She added that policies that can bolster local broiler production and effectively manage diseases could affect the increase in prices.

Netizens comment on price drop

South Africans on Facebook were uncertain whether retailers would implement any changes to poultry product prices should the prices decrease.

Neil Khelawan said:

"It's still financially difficult for many people."

Thato Maleta asked:

"Can we have the exact date?"

Langutani Evans said:

"Not in SA! Analysts predicted a drop in egg prices by October 2023. A year later, it's business as usual."

Pauli Potgieter said:

"Not these thieving retailers."

Mdondolovhani Khalanga Baloyi said:

"But they won't drop the price."

Eddie Kholofelo Malakane said:

"Egg prices are still high in stores."

Mzwanele Shange said:

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"Ever since I mistakenly took a bite of American imported plastic-like chemical-infused supposed chicken, I trust nothing other than a chicken I'm going to chop myself."

Egg prices cause debate online

In a related article, Briefly News reported that a woman shared the price of eggs in a TikTok video.

The video showed how expensive eggs became in 2023, and South Africans shared how concerned they were that egg prices increased.

Source: Briefly News