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Sri Lanka’s Crysbro exports poultry to GCC, Maldives, eyes Europe

ECONOMYNEXT – Sri Lanka’s Farms Pride (Pvt) Ltd, which started exporting poultry to the Middle East during a Covid-19 pandemic says it has exported more products to them Maldives and is eyeing Europe.

The firm which markets under the brand Crybro, exported shipment of chicken products to the Oman, during the Covid-19 crisis, which the firm says is the first large scale export to the Gulf Co-operation Council (GCC) region form Sri Lanka.

It has since completed another shipment to the Maldives.

The firm says hatching eggs for broiler chicken are also being exported to the Middle East and Maldives and it is planning to reach the European Union market.

Sri Lanka’s poultry sector accounts for roughly half of the livestock industry and contributes 0.6 percent contribution to Sri Lanka’s Gross Domestic Product.

Crybro says there is strong potential to export poultry products from Sri Lanka.

Economists and analysts have said that the sector potential is blocked by import tariffs on maize, which pushes up costs of production in Sri Lanka artificially.

Sri Lanka’s high import tariffs in general stops natural export diversification unlike countries like Vietnam as imported input costs are high. Tariffs on vegetable oil and margarine for example make a range of processed foods uncompetitive.

As a result Sri Lanka’s exports are limited to a few that started in the 1980s and 1990s with foreign investment and duty free imports and domestic industries are increasingly look inward, economists have said.

Meanwhile Crysbro says it has also upgraded its online portal for domestic to help domestic and other customers and suppliers.

“The updates to our new website support our brand mission and strategy and allow us to continue to build our customer relationships in a world that is ever trending digital,” Crysbro Marketing manager Amores Sellar said in a statement.

“It is also intended to help us pursue lucrative, niche export opportunities to ensure that foreign investment keeps flowing into our country, to stimulate economic recovery and long-term growth.”

The poultry group has downstream operations running up to a joint venture feedmill. (Colombo/July26/2020)