Growth predicted in India’s poultry industry
According to The Hindu Business Line, a study has reported that India’s poultry industry is expected to grow 12-15% a year in view of favourable conditions.
According to the study, there is still huge potential for growth, but the industry needs the right focus to sustain momentum.
The industry is faced with key issues such as shortage of corn, high logistical costs, threats of virus outbreaks and a large live-bird or wet market. The live bird market makes up almost 95% of the poultry meat industry sales, which means that the processed meat market is witnessing over-capacity. But fuelled by a booming retail sector, the market for processed meat is growing at an estimated 15-20% a year.
â€œThe rise in income coupled with greater hygiene awareness will lead to a decline in the wet market share, thus providing an opportunity for the processing industry to set up poultry retail chains,â€ the study said.
The study stated that the rapidly growing sector offers investment opportunities for foreign players in activities such as breeding, animal health, feed, equipment and processing. Foreign investments, however, are constrained by market uncertainty and poor infrastructure. The sector, therefore, needs to make investments in a veterinary system and export-driven processing plants.