Thursday, March 12, 2009

Bird Seed Prices

Here's an interesting article from the Associated Press regarding the rising cost of wild bird feed in recent months. Here's an interesting excerpt regarding the reason behind the rise in nyjer prices:

"Two factors tightened the supply and drove prices up, said Gordy Kribs, senior trader who specializes in birdseed imports for North Pacific Ag Products in Portland, Ore.

Some 30 to 50 percent of the Indian nyjer crop was wiped out by rainstorms in January. In turn, Ethiopian contractors, seeing an opportunity to capitalize, withheld shipments of their nyjer in hopes to securing higher prices, Kribs said.

Nyjer, known to attract colorful finches, has typically traded at 50 to 60 cents a pound on the wholesale market. It is now trading above $1 a pound, Kribs said. Retail prices, meanwhile, jumped from about $60 per 50-pound bag in December to the current $80 level.

India has begun shipping some of its surviving crop, and Kribs said he expects prices to moderate in the next month or so."

Read the full article here.

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