LAHORE: Poultry feed prices have gone up from Rs 3,085 per 50 kilogram bag to Rs 3,530 per 50 kilogram per bag as a result of the increase in the poultry feed raw materials during the period July 2020 to till date.

Raw material prices are increasing rapidly on daily basis as corn prices have shot up from Rs 1132/maund in July 2020 to now Rs 1700/maund, Soybean Meal Prices from Rs 3273 to Rs 4160, Rice tips from 1371 to now Rs 1800, Wheat Bran from 1078 to Rs 1421, Canola Meal from 2412 to 2508 and Sunflower Meal from 1814 to 2160/maund during the same period. Particularly in the case of corn, there is large scale hoarding taking place. Stockers have enough stocks but they are not releasing the same in the market. They are releasing small quantities and increasing prices on daily basis, alleged Raja Attique-ur-Rehman Abbasi Vice Chairman Pakistan Poultry Association (NR) in a statement issued here Saturday.

Feed being 75-80% of the input cost, will have a serious impact on cost of production and will contribute once again to the loss of farmers, which will result in reduced production and ultimately in the long term increase in prices of poultry products. The protocols placed for Covid situation have reduced the consumption of chicken due to restrictions on weddings and restaurants, which will further depress supplies and increase costs, he added.

Copyright Business Recorder, 2020