New Zealand grain prices soar by 80%

New Zealand broiler producers have started feeling the impact of the ongoing drought in Australia as grain prices soared by as much as 80%.

This warning came from Michael Brooks, executive director of the Poultry Industry Association. “New Zealand imports Australian wheat and chicken producers are experiencing a substantial increase in production costs.”

He added that “the astronomical increase in the cost of imported grain is just too great for the industry to absorb and chicken prices will have to increase.”