Perdue Farms CEO Says Chicken Prices Will Rise
While chicken prices are down from a year ago, Perdue Farms CEO Jim Perdue says consumers should prepare for a price increase because of a reduction in supply and increased demand, according to Fox News.
“Because there’s been about a 5 percent reduction in eggs being hatched, there is going to be, probably, due to supply and demand, an increase in market prices coming up this year,” Perdue said.
CNN reported in early June that meat, poultry, fish and eggs rose 3.7% in May. The article attributed the rise in meat prices to increased demand, but also to the shutdown of major processing facilities or slow down of operations because workers contracted COVID-19.
Meat processing plants were declared critical infrastructure by President Donald Trump so they could remain open during the pandemic. Employees at Perdue Farms’ plants in Iowa, Delaware and Maryland have contracted COVID-19, according to reports.
“We’ve been working very hard to protect workers and yet try to continue to provide chicken to the supermarket business,” Perdue said.
Foodservice represented about 20-25 percent of the company’s business pre-pandemic, Fox News reports, but Perdue Farms said it has seen an increase in home delivery of its chicken, pork and other meat because of the virus.