| Sri Lanka is preparing to secure its feed raw materials as local corn prices rise, in the wake of the Iran-US/Israel war. The country sources close to 40% of its feed corn through imports, and this year, the figure could be higher, as local harvests face higher production costs and traders have started stocking up in anticipation of a shortage.
Ajith Gunasekara, President, All Island Poultry Association, told that they had discussed with the government to open imports earlier this year. “We hope to get our import licenses between April and May, as we need to secure stocks soon, given the global uncertainty,” he said. The government, he said, has agreed to their proposals and has informed local farmers and traders of the intended move. “They cannot complain about local corn not receiving a good price, as prices have already shot up. It has gone from USD 0.46/kg to USD 0.57/kg already,” he noted. Sri Lanka will most likely look to India as its primary corn supplier. In the meantime, poultry producers are aware that they cannot pass on the full cost of production to consumers, as the economy is expected to contract, forcing people to spend less on goods and services. |
