Sri Lanka poultry firm ups export of parent stock chicks
ECONOMYNEXT – Sri Lanka’s Three Acre Farms Ltd (TAF), a unit of Singapore-controlled Ceylon Grain Elevators group, said it had upped exports of parent day-old chicks to South Asian countries and were looking to expand the business.
"The Management team has identified opportunities in regional export markets as potentially lucrative areas capable of generating substantial improvements to the Group’s topline and bottomline performances," the firm told shareholders.
"During the year in review, TAF successfully secured new orders for exports of Broiler Parent Stock DOCs to countries in the South Asian region, and the Group is actively seeking out further opportunities to expand its presence in regional export markets over the coming years."
"While the company has previously engaged in limited export business, during the course of 2016, TAF was able to secure relatively small but consistent orders that were expanded upon to great effect and now holds the potential to further enhance revenue streams for the Company in the coming financial year."
Sri Lanka cannot build a business exporting poultry (chicken meat) due to economic nationalism involving trying to build an autarky in Maize with high farmgate prices and restrictions of imports through import duties.
Within Sri Lanka, Three Acre Farms claims a 20 percent share in the broiler day-old chick market and a 3-38 percent share in the layer chick market.
TAFL also has commercial farms producing adult broilers for meat processing.
Sri Lanka in March lifted price controls on chicken. (Colombo/Apr09/2017)