• Monday, Oct 18, 2021
  • Last Update : 03:31 am

Government bans export of soybean meal

  • Published at 09:30 pm October 13th, 2021
Soybean Meal
Collected

The soybean export is causing a crisis in the domestic market hurting the cattle feed industry


The government has banned the exports of soybean meal in order to prevent the price hike of the key ingredients needed to produce poultry and cattle feed.  

In this regard, the commerce ministry issued a notification on October 12 saying the shipment of soybean meal would be stopped from October 14.

However, the exporters could ship the feed ingredient until October 20 against the settlement of LC or TT until October 13, said the notification. 

The decision was taken in the face of rising demands from the feed millers, poultry industry operators and dairy farmers as prices of the soybean meal rose 41% year-on-year to Tk53 to Tk55 per kilogram in August after India allowed imports to meet its domestic shortage of soybean meal.

They said that the soybean export is causing a crisis in the domestic market hurting the cattle feed industry as it is the major ingredient for poultry, fish and livestock feed. 

Currently, there are nearly 350 feed mills in the country and the domestic feed millers can procure 70% to 80% of soybean meal locally and import the remaining 20% to 30%.

The feed millers, poultry and fish farmers expressed relief over the decision to stop exports.

However, they also said that the decision to stop exports is not enough, it is also important to bring the price of soybean meals back to where it was earlier. 

If it cannot be done, the price of feed will not decrease and it will not be possible to control the production cost of eggs and chickens.


78
Facebook 75
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail