Higher Domestic Maize Prices cause for increased Chicken prices in SL – Report

Business

One of the country’s leading poultry industry player Bairaha Farms PLC (BFL) in their latest annual report of the company points out that import restrictions on maize and higher domestic prices of maize are causes for the increased Chicken prices in the country.

“As longs as the Government has protectionist policies in place that restrict the importation of maize and other essential raw materials that are not available in Sri Lanka, and the cost of local maize remaining high, the local poultry industry will be at a disadvantage to explore export opportunities while resulting in higher chicken prices in Sri Lanka” the annual report notes.

The report highlights that Sri Lanka is estimated to have produced approximately 180,000 MT (Metric Tonnes) of maize (corn) in 2017.

“The annual requirement of maize (corn) for poultry feed production is approximately 500,000 MT at 60% inclusion rate, as per the Department of Animal Production and Health” the report notes adding that moreover, the selling price of local maize can sell for as high as Rs. 52 per kilogram, while international maize price would be approximately Rs. 35 per kilogram (CIF Colombo).

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