UAE chicken imports forecast to rise - GAIN
Brazil’s market share is expected to continue to grow
8 April 2024
1 minute read
By: United Arab Emirates (UAE) chicken meat imports are forecast to increase in 2024 as domestic production expansion is unable to fulfil rising demand.
Brazil’s market share is expected to continue to grow, according to a recent US Department of Agriculture (USDA) Global Agricultural Information Network (GAIN) report.
The USDA post in UAE forecasts an increase of chicken meat imports to the UAE in 2024 by almost 3% or 385,000 MT
Production is forecast to rise - spurred by improved margins on higher retail prices and lower feed prices. Consumption is forecast higher in 2024 on continuing post-COVID economic recovery.
Two major factors will drive production growth. The UAE’s Ministry of Economy agreed to raise poultry meat and table egg retail prices by 13% in March 2023 to help maintain local production, encourage investment, and ensure the profitability of the local poultry sector.
This decision stemmed from retailers’ and producers’ requests following losses by local producers due to increasing shipping costs and unstable feed prices due to the war in Ukraine. The costs could not be passed along to consumers without the government’s approval per Ministerial Resolution No. 41 of 2023.
The second factor in production growth stems from forecasted lower feed prices (corn, barley, and oilseeds) in 2024 which will boost producer margins.
