Sri Lankan Poultry Industry to Expand20 April 2012
SRI LANKA - The poultry industry is expected to be over crowded in the coming years due to the rapid expansion of key players in the market and in view of this margins could be affected in the coming years, Primus Chairman and Chief Executive Officer Cheng Chih Kwong said in its 2011 annual report.
According to Daily News, with growing market trends and the Sri Lankan economy predicted to reach over 8 per cent growth in 2012, it can easily be said that the poultry industry's contribution to the economy will increase multiple-fold in the coming years. "We expect that the consumption of chicken will increase to about 8 kg per capita by 2016.
With a heightened emphasis on infrastructure development by the government, we hope 2012 will see new markets emerging with the necessary framework for new farms to be established throughout the island."
About 70 per cent of the contribution to the livestock sub-sector in Sri Lanka comes from chicken and eggs, which remains as the cheapest source of animal protein.
With the country's economic progress, the domestic per capita income also increased to US$ 2,830 (from US$ 2,400 in 2010) improving Sri Lankan purchasing power.
Currently the annual consumption of chicken in Sri Lanka is approximately 5.7 kg and 54 eggs per person. Chicken consumption is expected to increase to 8 kg per capita within the next four to five years, a good indicator for the business lines of Three Acre Farms.
During 2011, the poultry industry has also grown marginally.