The chicken industry in Karnataka has urged the Union government to intervene and enable duty-free imports of 12 lakh tonnes (lt) of soyabean meal immediately now, as rising feed prices hike up production costs.
The Karnataka Chicken Farmers & Breeders Association (KPFBA) has urged the Centre to enable duty-free imports of soyameal, a key component of poultry feed. Because of the increasing feed price and the scarcity of soyameal, the retail price of chicken has risen above 260 per kg.
Sushanth Rai, President of the KPFBA, stated that the cost of producing chicken had more than doubled in less than a year, owing primarily to rising feed costs. Soyabean, which cost 35 cents per kilogramme last year, has more than doubled to 80 cents this year.
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Similarly, the price of maize had risen from ₹15 to ₹25 per kg, making it difficult for poultry farmers to obtain quality feed.
As a result, the cost of producing chicken had risen from ₹70 per kg to more than ₹120, affecting both poultry businesses and customers.
KPFBA also urged the government to take harsh action against traders who were stockpiling soya meal. Rai stated that the government should take immediate action because many poultry farmers were leaving the industry due to the crisis.
He added that the government should consider it from a health standpoint, as chicken has been approved by the World Health Organization as an immunity booster.
In recent times, the Solvent Extractors Association of India urged the government to permit imports of soyabean meal.
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Meanwhile, the August soyabean futures contract is trading at 9,553 on the NCDEX, down 5.42 percent. In Indore, soyabean is quoted at ₹9,875 per quintal on the spot market. Soyameal is currently trading at around ₹89,000 per tonne.
The Soyabean Processors Association of India recently urged NCDEX to limit speculation in the soya complex, citing a new high in soya futures.