The Committee has pointed out in a press release that during the past two months, there has been a steep increase in the price of soyameal, mainly due to forward trading, speculation and hoarding by traders, exporters and certain multi-national companies, in anticipation of a substantial increase in the volume of export, reports The Hindu Business Line

In the past three months, the price of soyameal has more than doubled from less than Rs 2,000 a quintal to Rs 4,200 and that of maize from Rs 950-1,000 to Rs 1,400.

As a result of spiralling input costs, the cost of production for an egg — which was Rs 2.25 a piece two months ago — has now gone up to Rs 3. Similarly, the production cost for broiler meat has risen from Rs 40-45 a kg to Rs 64-65.

But the absence of a corresponding increase in farm-gate prices has led to poultry farmers incurring huge losses and unless the situation is remedied, half of the poultry industry would be wiped out, NECC said.

Simultaneously, the apex body also appealed to the Government for allocation of at least 10 lakh tonnes of wheat from the Food Corporation of India to minimise the pressure on the price of maize in the domestic market.