Market Update - Chicken & Seafood
We are hearing from our supply partners that chicken bird pricing is weak due to weak demand. We predict that chicken breast pricing will be falling in line with our market outlook in the last quarter of 2018.
Free range chicken will continue to be tight due to the hot weather / bush fire / Summer season which usually means that birds are lost.
We are hearing from our Vietnamese partners that basa pricing will keep on going up due to lack of fingerlings and high demand from the China market. Pricing will go up until end of Chinese New Year 2019 (start of Q2 2019).
Many packers are now packing 4.5KG per carton however, Taitung is still maintaining its stance on under weighted packaging until the end of 2018 which we will then review.
NEW ZEALAND MUSSELS
Our NZ suppliers cannot keep up with demand and have a back log of orders including our own shipments. Lack of supply is due to the cold weather which stuns and slows down the typical mussel grow rate. We do not see any relief in 2019 and so will be re-considering pricing on a monthly basis.