By Charlie Reeve
EU broiler prices dropped back by 1.6% in the last month to average 273 eurocents a kg for the week ending 21 August.
However, prices were still 3% higher than the same month last year.
Broiler prices in the US had been roughly in line with EU prices, however a widening gap has emerged during the summer months with prices in the US falling back.
Broiler prices in the US were the equivalent to 250.64 eurocents a kg in mid-August, a 22 eurocents a kg discount to the EU.
Broiler prices in Brazil have remained steady and were the equivalent to 122 eurocents a kg throughout August, a considerable discount to both prices in the US and EU.
EU broiler production has remained strong so far during 2024, with production higher during the first half of the year than the same period in 2022 and 2023.
In June, production was estimated to have risen again to roughly 800,000 tonnes, putting it at the highest monthly volume for more than three years.
Poland accounted for the largest share of total EU poultry meat production in 2023 at 21%, followed by Spain (13%), Denmark (12%), France (11%), and Italy (10%).
EU egg prices dropped to below the 200 eurocents a kg mark in the last month to average 194.8 eurocents a kg in mid-July, down by 0.8% on the previous month and 6.6% lower than the same month last year.
The main EU egg producers in 2023 were France, Denmark, and Spain with each accounting for roughly 14% of the total market share, this is followed by Italy at 12%. Total EU egg production was 6.78m tonnes in 2023, which was 0.7% higher than in 2022.
The UK was the EU’s largest export destination during the first four months of 2024, with 45,758 tonnes of eggs being imported into the UK from the EU.
This accounted for more than a third of total EU egg exports and was an increase of 4.4% compared to the same period last year.
Ukraine was the largest exporter of eggs to the EU with volumes up by 39% for the year to date. More than 22,000 tonnes of eggs were imported by the EU from Ukraine, which accounted for almost 64% of total imports.
The UK was the second largest exporter to the EU with 5,100 tonnes being sent during the first four months of the year.
This was a 45% increase on the same period last year but still considerably lower than the volume of eggs imported from the EU by the UK.