The Avian flu or Bird flu outbreak in India may dampen poultry sales by a third this month, but the poultry sector will bounce back in quick time, says CRISIL Ratings' analysis.
Ever since the first case of bird flu was reported in Kerala in the first half of December 2020, it has spread to over ten states. The flu is said to spread due to carrier migratory wild birds crossing into the country.
The CRISIL's analysis, which rated 87 poultry companies comprising nearly 30 percent of the industry's revenue, shows that it has chopped around 30 percent off broiler chicken volume, bringing down daily chicken demand in the country from 100 lakh kg in December 2020 to an estimated 70 lakh kg in January 2021.
In addition, the rating agency added that wholesale prices of broiler chicken have crashed 20-30 percent from Rs 105-110 per kg in December to Rs 80 per kg.