Due to the COVID-19 outbreak, people have moved to at-home food consumption over the last six months. Globally, we haven’t seen this big or dramatic of a change in food consumption in many, many years. As a result, global markets have been shaken up, primarily due to movement restrictions mandated in many countries.
“Poultry is probably the most affected among the meat proteins because of its high dependence on the food service industry,” said Nan-Dirk Mulder, senior analyst - Animal Protein with Rabobank. “If you look to most markets worldwide, somewhere between 25% to more than 50% of poultry that is sold is going into food service. That’s the reason why the impact is so significant on poultry.”
Source : thepoultrysite.com