Global demand for chicken will increase by 47% by 2030, Lorival Luz, chief executive of Brazilian food processor BRF, said at an industry event on Wednesday.
Luz said companies in Brazil, the world's largest chicken exporter, should prepare, as changing consumption patterns are making people lean towards poultry compared to meat. Beef and swine.
The projection compares global demand for chicken in 2011 with expected demand through 2030, a BRF representative clarified in a later statement.
During Luz's presentation, he did not provide an estimate of how much of this additional market demand Brazilian companies themselves, or BRF, could meet.
While demand for chicken products is expected to grow and that is positive, Luz warned that higher costs are weighing on the industry after corn and soybean meal prices rose 3.4 and 2.5 times, respectively, in last seven years.
Sources: investing.com
