LAHORE: Poultry meat prices on Wednesday registered a sharp dip in the provincial metropolis as the official rate was fixed at Rs 504 per kilogram against Rs 569 per kilogram of the Tuesday registering a decline of Rs 65 per kilograms.

Traders termed thin demand after continuous increase in the prices as the main reason behind reduction in the prices.

Pakistan Poultry Association (PPA) Punjab President Chaudhry Nusrat while talking o Business Recorder said there were two main reasons behind decline in the prices.

First, he said it could be termed a positive response by the market to the news of permission by the federal government to allow clearance of the vessels carrying soybean meal thus improving the production of poultry feed.

The second reason, he admitted, is the very high prices due to which demand had declined and it forced the prices to go down.

When asked, he said that the government had given one time permission for clearing the already reached vessels of soybean but it should be done on the permanent basis.

Khalique Arshad, a former PPA chairman said that shortage of poultry feed and thin demand due to higher prices had forced the farmers to curtail their production.

He said that the prices would continue to fluctuate for another month or so and then it would stabilize once the production by farms would be in full strength.

Copyright Business Recorder, 2023