As a result of the political crisis affecting the country since 2018 together with the pandemic that began in 2020, the chicken producer and operator of the restaurant chain Pollo Estrella, was financially destabilized and was seized by at least four banks.
Thursday, June 3, 2021
Following a judicial process being handled in the courts of the municipality of Tipitapa, where the central plant of the Nicaraguan company operates, the authorities decided to intervene Avícola La Estrella.
In addition to operating a chain of fast food restaurants, it is estimated that until a few years ago, this business group covered about 20% of the national chicken production.
Laprensa.com.ni explained that after making a tour, it was "... confirmed that its restaurants are closed, as well as one of its collection centers located in Carretera Norte. Este Diario visited its restaurants in Bello Horizonte, the one in Monsenor Lezcano neighborhood and another one in Linda Vista."
Donald Tuckler, director of the National Association of Poultry Farmers and Food Producers (Anapa), said that "... after the 2018 crisis, the sector was seriously affected by the decrease in consumption: 'for no one it is a secret that the economy was affected, there are sectors that were drastically affected, all that in general and the situation of the decrease in purchasing power led to a reduction in consumption, due to the circumstance that the country has gone through in recent years, both the socio-political crisis and the pandemic'."
According to specialists in the subject, the intervention of this business group could be the beginning of other similar processes, since due to the economic crisis there are companies that are unable to meet their financial commitments.
The country's chicken producers estimate that they will close 2020 with a 1.3% decrease in sales, a drop that would be explained by the drop in orders from hotels and restaurants, establishments that operate partially due to the low presence of tourists.
The spread of covid-19 caused considerable damage to the tourism and restaurant sector, since the country's air connection was interrupted and up to now few tourists remain there.
In the local market, the demand for fried and roasted chicken is estimated at 640,000 parts per day and each consumer spends an average of $3.33 on each purchase.
Figures from the National Association of Poultry Farmers of Honduras (Anavih) detail that weekly consumption of cooked chicken amounts to about 4.4 million pieces and approximately 25% of total Honduran consumers buy this type of food.
Increased competition and rising production costs are causing firms in the sector to revive their production processes with new plants, equipment and electrical systems.
The three companies which dominate 92% of the market for chicken meat and its derivatives are making significant investments to modernize their production processes in an increasingly competitive world where consumption has maintained a steady upward trend.
The numerous companies competing in the market now have a new competitor, Pollo Granjero.
The new brand, owned by Multiinversiones, has begun its expansion in the market, offering ".. a quick, good quality and affordable option ..." in the words of Rodrigo Del Cid, marketing the company’s manager.
×
ok
5893Government Procurement Opportunities in the region