Bangladesh’s feed demand set to recover to pre-pandemic levels

Published 2021년 4월 9일

Tridge summary

The Bangladesh feed industry is expected to recover and reach pre-pandemic levels in the 2021/22 marketing year, according to the US Department of Agriculture. The sector was hit by slow demand due to Covid-19 lockdowns, which led to increased production costs for animal feed and fodder, veterinary medicines, labor, and transportation services. The pandemic also affected consumer demand for dairy, livestock, poultry, and aquaculture products, causing a decrease in soybean demand. Bangladesh's total soybean supply is projected to remain the same as the previous year, with an expected import of over 2.65 million metric tonnes. The country's domestic soybean production makes up approximately 5% of the country’s total soybean demand.

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

Original content

Bangladesh’s feed industry, which has been hit by slow demand during a Covid-induced lockdown, is set to return to pre-pandemic levels in the marketing year 2021/22, according to the US Department of Agriculture. Farmers’ cost of production increased for animal feed and fodder, veterinary medicines, labour, and transportation services became difficult to obtain due to disruptions caused by the pandemic. Further, consumer demand for dairy, livestock, poultry, and aquaculture products decreased because of government ordered lockdowns and consumers adapting their food purchases. According to a report from the United Nations, within weeks of the government ordered lockdowns in the spring of 2020, prices of staple food items like rice increased by 20-30%. As the reduced household spending focused increasingly on staple foods, producers of meat, poultry, fish, and dairy were negatively affected. The slowdown in Bangladesh’s dairy, livestock, poultry, and aquaculture sector directly ...

Source: Indoasiancommodities