North Asia chicken price hits six-month high on firm demand, tight Brazil supply

The North Asia chicken leg marker rose 13% month over month on Feb. 17, reaching its highest level since August 2024.

Platts, part of S&P Global Commodity Insights, assessed the CFR North Asia chicken leg price at $2,110/mt on Feb. 17, up $60/mt from Feb. 10.

The increase was driven by a resurgence in Japanese demand for Brazilian boneless chicken legs, following a period of reduced exports from Brazil between December 2024 and January 2025. This shift is largely attributed to expectations of dwindling inventory levels, which have been elevated since mid-2024.

In Japan, the demand for chicken meat was bolstered by soaring pork prices, driven by supply instability linked to the ongoing foot-and-mouth disease outbreak in Germany. This situation has further intensified the appeal of chicken as an alternative protein source, according to a Japanese market source.

The increased demand and limited supply from Brazil also pushed up cash market prices for boneless legs in Japan. On Feb. 14, domestic prices for imported boneless legs (200 g and up) and sized boneless legs rose 3% week over week and about 11% month over month.

The domestic market price currently stands at Yen 380/kg, which is about $2,075/mt CFR for boneless legs (200 g and up), another market source said.

Additionally, offer levels for Brazilian boneless chicken legs (200 g and up) have gone up by $100/mt for shipments scheduled between March and April, compared to those set for February-March, according to market sources, indicating a continued rise in prices.