Abu Taher BappaPublished:
2020-04-01 08:45:23 BdST
Poultry sector stares at over Tk1,150 crore losses
The poultry sector in Bangladesh fears losses exceeding Tk1,150 crore between March 20 and April 4 due to the deadly Covid-19 pandemic.
Making the prediction in a press release on Tuesday, the Bangladesh Poultry Industries Central Council (BPICC) said, "Already, the sale of poultry chicken and eggs has dropped in the market.
"On top of that, poultry farmers and entrepreneurs cannot even market what they are producing, facing a large amount of losses because of the issue."
At the same time, raw materials used in the poultry industry are stuck at the port because the country's only poultry research and training centre is closed at present.
The BPICC said the present situation amid shutdown has caused havoc on the poultry industry.
Though rice and lentil prices have increased, that of broiler chicken, one-day-old chicken and egg have dropped significantly.
Poultry and fish feed production has plunged by 70-75 percent.
One-day-old chicken price has dropped to Tk1 whereas the production cost is almost Tk35.
Besides, the sale of poultry processed products has plummeted by 95 percent.
BPICC President Moshiur Rahman said, "Roughly, until April 4, our losses will exceed Tk1,150 crore, and Tk1,650 crore after a week. Moreover, if the situation does not improve, the loss will be Tk100 crore per day."
To overcome the situation, the poultry council has asked the government to provide subsidies along with other forms of support for the industry.
It requested the government to exempt interests for six months for all business entities concerned along with the waiver of port demurrage to be paid for the raw materials stuck at the port.
The council also urged the government to distribute eggs and chicken as a part of its free food programme.
Unauthorized use or reproduction of The Finance Today content for commercial purposes is strictly prohibited.