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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Sri Lanka sees weak demand for poultry in 2013, feed costs high

Sri Lanka sees weak demand for poultry in 2013, feed costs high

Go down  Message [Page 1 of 1]

Jayashantha

Jayashantha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Sri Lanka has seen weak demand for chicken in 2013 a top poultry firm while costs were elevated, a poultry firm said, as the country emerged from a balance of payments crisis and steep currency depreciation.

Bairaha Farms, which sells processed meat, branded chicken, day old chicks and parent breeder chicks said revenues rose just 4.6 percent 3.0 billion rupees in 2013 while direct costs rose 5.6 percent to 2.61 billion rupees.

In 2012 when Sri Lanka's currency depreciated from 110 towards 130 to the US dollars following credit taken to subsidized energy, Bairaha's revenues rose 3.1 percent to 2.9 billion rupees and costs jumped 19.3 percent to 2.4 billion rupees.

The company said there was a "noticeable dip demand" by low and middle income consumers while demand was stable among high income segments, while raw material costs were high.

"The industry was characterized by many months of glut and excess production, as result of depressed demand for chicken meat," Bairaha Chairman M T A Furkhan told shareholders in the annual report.

"The quality of poultry feed available in the market deteriorated due to high prices that prevailed in the market for raw materials.

http://www.lankabusinessonline.com/news/sri-lanka-sees-weak-demand-for-poultry-in-2013,-feed-costs-high/1603467481

VALUEPICK

VALUEPICK
Expert
Expert
I saw this in their annual report. Do you know anything about this?

At present Sri-Lanka exports parent breeder chicks, table eggs, and hatching eggs. However there is a capacity to export chicken meat as the current production exceeds the local demand and there is a potential demand for chicken meat in the Middle Eastern countries. Government has taken unprecedented bold step in April 2014 to permit import of maize for a period of two months to at a concessionary all inclusive rates of 10% duty plus VAT.

dineshfernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Is Value pick = Market watch

Same style of writing.

dhanurrox


Vice President - Equity Analytics
Vice President - Equity Analytics
@dineshfernando wrote:Is Value pick = Market watch

Same style of writing.
What ever he says is correct because they are general statements Razz .

stevenapple


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The Rupee is quite stable these days and general perception is it will not depriciated alarmingly. One + point.

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