The chicken production has been steadily growing at a CAGR of 10-12%
Chicken prices in many parts of the country have started rising and are expected to increase by 25-30 percent amid the controversy over beef consumption, industry body Assocham has said.
It 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%."
According to the analysis by Assocham's Economic Research Bureau (AERB), "Poultry wholesale price index has also risen over 22% while that of beef and buffalo meat has declined about 3 % between May 2014 and March 2017."
The chicken production has been steadily growing at a compounded annual growth rate (CAGR) of 10-12 per cent, while its consumption has been clocking a CAGR of 15-18 per cent since the past few years.
An Assocham official said, "The ban and related controversies have come as a blessing in disguise for poultry firms in Andhra Pradesh, Haryana, Karnataka, Kerala, Maharashtra, Punjab, Tamil Nadu, Telangana, Uttar Pradesh and other key regions."
As part of its analysis, Assocham had conducted a survey of about 100 poultry shops in different states, whereby the majority of the respondents confirmed the demand was picking up despite the onset of summer.