The cost of chicken is increasing to the extent that experts are warning how it could become more expensive than beef.
Due to the ongoing invasion of Ukraine by Russia, the cost of chicken feed means that what used to be considered one of the most affordable meats is now rising in price faster than any proteins.
Chicken feed is mostly made from soya, sunflower meal and wheat, and the production of such foodstuffs took a massive hit due to Russia and Ukraine being two of the biggest exporters of sunflower oil and wheat.
Chief executive of Co-op Steve Murrells warned how the days of cheap chicken breasts could be coming to an end. ‘The chicken industry has particular challenges because of the feed costs’ he said.
This comes as other foodstuffs also experience sudden soaring, with even local pastizzi increasing by 10c in just these few months. Times of Malta had previously reported how suppliers are being faced with take-it-or-leave-it situations, with customers starting to complain more and more.
Just today, Malta’s Finance Minister Clyde Caruana confirmed that a government spending review is underway to mitigate the impact of energy subsidies on public finances. The review comes as the government remains committed to keeping energy and fuel prices stable as oil and gas prices soar.
#MaltaDaily