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Thursday, 23 February 2017

Time for Africa: Modern Poultry Industry Is Taking Shape in Africa

Africa is ready to take its place on the world stage, as the poultry industry is evolving, from a national and regional basis to a more global platform, according to RaboResearch’s latest report ‘Time for Africa: Capturing the African Poultry Investment Opportunity’.The year-on-year growth in the global poultry markets is set to continue: a demand growth of more than 60% is expected over the next 20 years. This leads to significant global investment streams in an industry that is evolving, from a national and regional basis to a more global platform. Most recent investments have focused on Europe, the Americas and Asia, driven by bullish market circumstances. Africa has attracted relatively limited investor interest. But this is changing. “Driven by a rising middle class and rapid urbanisation, a more modern poultry industry is taking shape in Africa”, according to Rabobank Senior Animal Protein Analyst Nan-Dirk Mulder. “The growing middle class is changing its consumption patterns, moving from vegetable-based consumption to a more protein-rich diet. In this shifting diet, poultry and eggs are the protein of choice for African consumers—as these protein sources are affordable and available, but also because consumers prefer the taste of chicken and eggs over other proteins. Poultry availability is supported by the short payback times for poultry and egg production, making poultry production easier to start up and expand.” Furthermore, many Sub-Saharan African countries like Nigeria, Angola, Zambia and Zimbabwe have the potential to further increase their feed ingredient supply, which could support a more competitive supply of poultry in these countries, as feed costs make up around 70 percent of total costs.

Source: research.rabobank.com