Lankans to eat more chicken in next five years

20 April 2012 07:04 am Views - 6874

The per capita consumption of chicken by Sri Lankans is to increase to 8 kilo grams within the next five years, in line with the increase of purchasing power of the citizens, Ceylon Grain Elevators (GRAN), the largest company producing chicken in the country said.

According GRAN’S latest annual report, the yearly chicken and egg consumption in Sri Lanka at present is approximately 5.7 kilo grams and 54 eggs per person.
The per capita consumption of chicken increased significantly to 5.7 kilo grams from 5 kilo grams in the previous year.

“We expect this increasing trend to continue in the coming years on par with increasing purchasing power enjoyed in Sri Lanka,” GRAN Chairman and CEO, Cheng Chih Kwong primus said.

Meanwhile, as the company is planning for new investments on capacity expansion in the year 2012, while the board of directors has decided to refrain from declaring a dividend for the financial year ended December3, 2011.

“We trust our decision will be understood and appreciated by shareholders as being one that will bode well for the company in the future,” the Chairman noted.
The report further stated that supply of locally produced maize, which comprises large part of chicken feed, decreased drastically due to unfavorable weather conditions and floods in maize growing areas. As a result, the price of local maize has increased from Rs.42 per kilo grams in December 2010 to Rs.45 per kilo grams in December 2011.

“This led to a higher feed production cost. The sudden rupee depreciation over the US$ by 3 percent towards the end of 2011 further increased the price of all imported items and added burden to the industry,” Kwong said. (KP)