Agri Business

Karnataka poultry players urge Centre to allow duty free imports of 12 lakh tonnes of soyameal

Our Bureau Bengaluru | Updated on July 28, 2021

Higher feed price and shortage of the feed ingredient have resulted in retail price of chicken going beyond ₹260 per kg

As rising feed prices push up the production costs, the poultry sector in Karnataka has urged the Union government to step in and allow duty free imports of 12 lakh tonnes (lt) of soyabean meal immediately.

The Karnataka Poultry Farmers & Breeders Association (KPFBA) has urged the Centre to allow duty free imports of soyameal, one of the main ingredients of the poultry feed. The higher feed price and shortage of soyameal have resulted in retail price of chicken going beyond ₹260 per kg.

Sushanth Rai, President, KPFBA, said the cost of production of chicken had doubled in less than a year mainly due to the soaring feed costs. Soyabean, which was ₹35 a kg last year had more than doubled to ₹80. Similarly, maize price had increased from ₹15 to ₹25 per kg, making it difficult for poultry farmers to source quality feed.

As a result, the cost of production of chicken had increased from ₹70 per kg to over ₹120 and this was affecting both the poultry farmers and consumers.

KPFBA also urged that the Government take strict action against those traders who were hoarding soya meal. Rai said the government should take immediate steps as many poultry farmers were exiting the business, unable to deal with the crisis. The government, he added, has to also look at it from a health perspective as chicken has been endorsed by the World Health Organisation to be an immunity booster.

Recently, the Solvent Extractors Association of India had also urged the government to allow soyabean meal imports.

Meanwhile, soyabean futures contract for August are trading at ₹9,553 on the NCDEX, about 5.42 per cent lower. In the spot market, the soyabean is quoted at ₹9,875 per quintal in Indore. Soyameal is trading around ₹89,000 per tonne.

The Soyabean Processors Association of India recently urged NCDEX to curb speculation in the soya complex as soya futures had hit a new high.

Published on July 28, 2021

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