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Poultry Meat Duty, Import Ban Has Turned The Tide
SRI LANKA - Sri Lanka's Bairaha group says better demand and the duty on imported meat helped turn a mid year 10 million rupee loss to a 5.5 million profit at the end of the year. |
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Profits are rising
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Bairaha's revenues for the year ending in March 2007 increased to 1.25 billion rupees, from 1.13 billion.
The group attributes the profit to improved demand for chicken meat and day old chicks from the second quarter of the year.
The shortage of poultry products in the local market in the fourth quarter, as a result of the import ban on breeder chicks owing to bird flu fears helped Bairaha farms to better sell its produce.
"The imposition of a duty of 100 rupees per kilo on any imported meat helped to maintain profitable business for thousands engaged in the poultry industry…" Yakooth Naleem, managing director of Bairaha told shareholders in the group's annual report.
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Source: LankaBusinessOnline
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