This is the prediction from agriculture specialists Rabobank, which said the animal protein sector faced unfavourable conditions and tightening margins in the year ahead.
Poultry World reported that Rabobank, in its Global Animal Protein Outlook report for 2024, said higher production costs and tighter supplies would push animal protein prices up and constrain global consumption.
The poultry sector would increase in 2024, though growth will be smaller than in 2023. On a regional level, Brazil and Southeast Asia will see the fastest production growth for poultry and meat, but again it will be less significant than last year, due in part to disease which remains a downside risk.
“Meanwhile, the threat posed to the poultry sector from plant-based meat alternatives is declining with both customers and investors turning their backs on the products,” Rabobank said.
