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Chicken, Egg Price Rises in the Pipeline

by 5m Editor
24 November 2010, at 8:53a.m.

AUSTRALIA - Consumers are being warned that they will have to pay more for poultry meat and eggs next year as the result of rising feed prices.

Enjoy your turkey this Christmas, because it could be more expensive to put poultry on the table next year, according to Sydney Morning Herald.

Poultry – Australia's favourite meat – will be 3.5 per cent more expensive in 2010/11, due to the effects of rising global grain prices, the National Australia Bank's (NAB) November rural commodities wrap predicts.

NAB agribusiness general manager Khan Horne said the price of feed grain was 16.6 per cent higher than at this time last year and was unlikely to ease significantly until at least late 2011.

The egg industry also is facing considerably higher costs this year, and NAB expects production to be down two per cent in 2010-11 as a result.

The forecast is for a rise in consumer egg prices of around four per cent and further rises in late 2011 when the full impact of rising costs should be felt, reports Sydney Morning Herald.