CPIN – Good Performance could continue on better chicken prices

CPIN – Good Performance could continue on better chicken prices Charoen Pokphand Indonesia (CPIN) could continue its positive performance throughout this year on higher chicken prices and lower raw material prices. It is expected that La Nina will stabilize the corn price' outlook, locally and globally. Note that, 50% of animal feed' raw material, is made from corn. At the same time, chicken' prices have stabilized due to demand recovery with voluntary culling earlier this year. Moreover, the National Food Agency has supported the industry with its regulations, such as the reference price' relaxation for broiler meat, eggs and corn, in order to sustain the positive trend of chicken prices. Thus, the DOC' price has reached IDR7,900 per chick in May'24 and CPIN expects the positive trend to continue to this month onwards. With higher DOC and broiler' prices, CPIN expects to offset the decline in its processed food' segment. (Source : Kontan)