Chicken prices are falling to decade low rates in China- the world’s second largest poultry consumer nation, as fears grow about the spread of bird flu. In January alone, a total of 79 people reportedly died from H7N9 avian flu in China, which has affected the share prices of meat producers across the nation. According to Shanghai-based consultants JC Intelligence Co (JCI) this increasing amount of fatalities is the major reason behind the sinking prices of Chicken in the country.
The average price of live chickens in major producing areas such as Shandong, Henan, Hebei, Gansu, Anhui, and the northeast region fell to 5.28 yuan ($0.7690) per kilogram this week, down from more than 7 yuan per kg in December.
It is not just China battling the deadly H7N9 avian flu, governments of South Korea and Japan has issues alarms on virus outbreaks. In China most of the live poultry markets have been closed down. These live poultry markets accounts for over a third of the chicken meat sales in the country in the last year. Closing down live markets as over the fear of spreading bird flu worsened situation.
White feather chicken, bred from imported stock and used by fast-food chains has been affected the most. The last major outbreak in 2013 that ravaged the domestic industry caused more than $6 billion in losses for the agricultural sector.