Chicken prices in many parts of the country have started rising and are expected to soar by 25-30 per cent amid raging controversy over beef consumption in the country, industry body Assocham has said. Rising per capita incomes, growth in quick service restaurants are other key reasons for growing demand and consumption of meat in India, it said. Consumption of chicken is likely to go up by 35-40 per cent, it said.
“Poultry wholesale price index has also risen over 22 per cent while that of beef and buffalo meat has declined about three per cent between May 2014 and March 2017,” as per the analysis by Assocham’s Economic Research Bureau (AERB). Besides production of poultry meat, mainly chicken has been steadily growing at a compounded annual growth rate (CAGR) of about 10-12 per cent, while its consumption has been clocking a CAGR of 15-18 per cent during the course of past few years.
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