Chicken meat prices continue downward trend

Chicken meat prices continue downward trend

ISLAMABAD, MAY 25 /DNA/ – In a welcome respite for meat lovers, chicken prices in Lahore have witnessed a continuous decline, with the cost per kilogram dropping by Rs15 to Rs377.

This marks a substantial reduction from earlier this month, when prices saw a decrease of Rs78 per kilogram, according to the Pakistan Poultry Association.

The consistent decline in chicken prices over the past two weeks has brought much-needed relief to consumers, who can now purchase chicken meat at a more affordable rate.

In contrast, the price of eggs per dozen has remained stable at Rs251 in the provincial capital of Punjab. This stability in egg prices comes as a slight consolation to consumers who have been grappling with high inflation rates in recent months.

Adding to the positive news, the Pakistan Bureau of Statistics (PBS) reported a decrease of 0.34 percent in the Sensitive Price Index (SPI)-based inflation for the week ending May 23, 2024. This marks the sixth consecutive weekly decrease in inflation, offering some economic relief.

According to the PBS, out of 51 essential items monitored, prices of 12 items increased, 18 items decreased, and 21 items remained stable during the week. The consistent decline in chicken prices, coupled with stable egg prices, is expected to provide further relief to consumers, who have been enduring significant financial strain.

Economists suggest that the reduction in chicken prices may be attributed to various factors, including improved supply chains, favourable production conditions, and strategic market interventions.

However, they caution that the market remains volatile and subject to rapid changes based on supply and demand dynamics.=DNA