Poultry industry to expand
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.
With growing market trends and the Sri Lankan economy predicted to
reach over 8% 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.
Poultry in a farm |
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% 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. |