The pricing formula to set the minimum live price of BC chicken has been under a Supervisory Review of BC FIRB since May 2019. The BC Chicken industry has been waiting for a resolution on the pricing formula for well over 5 years. The Chicken Board finished consultation with industry to create a long-term pricing formula and a recommendation was submitted to the BC FIRB on October 30, 2023. The Chicken Board had proposed a BC Cost of Production (COP) Model which has been approved by the BC FIRB as of May 22, 2024, as per the attached. The new COP will be phased in over 6 periods beginning in A-190.
Further details will be released in the coming weeks as the Board begins its implementation process. The Board will plan a virtual Townhall in the coming weeks to further discuss the implications of the approved long term pricing formula as well as the Boards 2024-2027 Strategic Plan. Stay tuned for an invitation to that meeting.
Thank you to all industry and grower representatives who participated and contributed to this COP pricing formula.
Read the full report on BC Chicken Marketing Board Final Long-Term Pricing Recommendation here.