Chicken and egg prices expected to drop with maize import tax slash

21 August 2023 03:54 am - 12 - {{hitsCtrl.values.hits}}

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Chicken price drop, though not substantial, likely to come into effect in two weeks

By Shabiya Ali Ahlam

Chicken prices are expected to come down in about two weeks as the government last week slashed the import tax on maize by 60 percent, which will help reduce the cost of poultry feed significantly, The All-Island Poultry Farmers’ Association said.

The move to slash import tax on maize to Rs. 25 from Rs. 75 was welcomed by the Association, which pointed out that the decision will help the sector to operate in a manner that will help benefit all its stakeholders, from the farmer to the consumer.

Accordingly, the price of a kilo of frozen chicken is slated to come down from the current Rs. 1, 350 to Rs. 1,250 in two weeks, All-Island Poultry Farmers’ Association Chairman Ajith Gunasekara told Mirror Business.

By December, the Association hopes to make eggs available in the market at Rs. 40.

“We welcome this move by the Ministry of Finance. We have been advocating for this for several months and finally, they have taken a favourable decision. Our aim is to make chicken and eggs available in the market at affordable rates, and this benefit we will pass on,” he said. Gunasekara pointed out that the drop in the price of chicken is applicable only on frozen meats and is unsure about those engaged in selling fresh meats will drop their prices.

The prices of chicken and eggs increased drastically in the last two years from about Rs. 450 to nearly Rs. 1,400 due to the limited availability of ingredients to produce chicken feed. According to Gunasekara, the feed accounts for about 75-80 percent of the cost of chicken.

Maize, a crucial component in chicken feed production, remains an area where Sri Lanka has yet to enhance crop output to meet domestic demand.

However, over the years, the government has justified imposing restrictions and high import taxes on maize imports by emphasising the protection of local farmers.

Such decisions paved the way for the so-called ‘maize mafia’ to procure the local production at lower prices, hoard them to create an artificial scarcity, and eventually sell them to the poultry industry at above global market prices.

While the supposed aim of the import ban and high import tax was to protect the farmer, the beneficiary was only the middleman.

Gunasekara asserted that with the decision to slash the import tax on maize, local maize farmers will not be impacted in any way as only the required quantities, which cannot be met with local production, will be imported.

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Comments - 12

Wixie Monday, 21 August 2023 10:15 AM

Eggcellent!

Consumer Monday, 21 August 2023 10:35 AM

Isn't it another Scam to make a big announcement about reducing prices of Chicken but reducing only by a mere Rs 100/- a Kilo ?

Amaran Monday, 21 August 2023 10:37 AM

Over night, you cannot expect prices to drop. Chicken has to grow to become hen. Then only it can lay eggs.

Mike Jeya Monday, 21 August 2023 10:58 AM

Yes, make the local egg production competitive and gradually decrease the import of eggs.

Grace Monday, 21 August 2023 11:29 AM

Even chicken and eggs have become luxurious food. If poor people want, they are free to dream of eating these luxurious food. Our politicians have a VIP hell

Boru Na ..... Atha ..... Atha ...... (100% truth) Monday, 21 August 2023 11:51 AM

How many two weeks ran away... same story - just cheating the public.

Dean Martin Monday, 21 August 2023 11:53 AM

Without just saying by WORDS do it. Only Chicken and Eggs we could at least afford to buy, fish is very expensive.

Luke Aponso - Journalist Monday, 21 August 2023 11:55 AM

All lies.... just to subside the anger against Ranil and his dirty government, these Boru-Stories are fabricated.

Dee Monday, 21 August 2023 01:31 PM

Nothing to do with maize prices. Today- nobody buys local eggs!

Reducing import taxes on foods only way forward Monday, 21 August 2023 03:26 PM

It seems the government is admitting it's taxes or duties on imports is what caused chicken and egg prices to rise. In India they don't have so many taxes on imports. They put taxes on exports of food products, but no so much on imported foods. Reducing import duties is only way for the country to improve and public to get affordable products.

Anil Pushpakumara Monday, 21 August 2023 04:23 PM

Do not expect the price to be reduced overnight. This maize has to be brought from overseas, distributed, and fed to poultry in order to produce eggs or meat.

Mirisse Pala Tuesday, 22 August 2023 02:52 AM

Poorman can enjoy chicken and eggs now? How about Pin Padi Politicians? Ham Baken?

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Chicken and egg prices expected to drop with maize import tax slash

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