India's poultry industry looks to cut corn exports to calm prices

Published 2022년 12월 14일

Tridge summary

India's poultry industry has called for a restriction on corn exports to limit domestic price increases and ensure adequate supply of poultry feed. The appeal comes in the face of rising corn prices, attributed to high demand, increased exports, and crop damage from heavy rainfall. The cost of production for the Indian poultry industry is being pushed up by these price increases. In 2021, India exported 3.6 million tonnes of maize, and by September of this year, it had shipped 2.4 million tonnes. The competitive pricing of Indian corn has been a major factor in its export growth, despite the challenges it poses for the poultry industry.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

India needs to restrict corn exports to contain the rise in domestic prices and ensure sufficient supply of the main raw material poultry feed, the country's poultry industry said on Tuesday. Domestic corn prices rose, driven by high demand, increased exports and some crop damage after heavy rains. “We are facing a huge shortage. That's why we ask the government to ban corn exports," Neeraj Kumar Srivastava, president of the Compound Animal Feed Manufacturers Association of India, told Reuters in an interview. Maize prices in the Gulab Bagh market in the eastern state of Bihar, a major maize hub, rose by around 12% to 25,000 rupees ($302.02) a tonne last year, pushing the cost of production to the Indian poultry industry. “Maize prices have been rising for the last few years, but the recent increase was a big blow to the industry, which is why we are going through a difficult phase,” said Srivastava. “We can no longer pass the cost on to consumers as higher egg and chicken prices ...

Source: Novacana