Poultry industry to cross Rs 1.32 lakh cr: ASSOCHAM
Mumbai, Oct 13 : With domestic demand for broiler meat and eggs into an overdrive, the Indian poultry industry is likely to cross Rs 1.32 lakh crore mark by 2015, apex industry body ASSOCHAM said on Thursday.Growing at about 20 per cent annually the domestic poultry market is currently estimated at about Rs 49,000 crore, highlights a study on 'Trends In Domestic Poultry Segment' undertaken by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
"Driven by rising purchasing power, changing food habits, contract poultry farming and rapid urbanisation are certain key reasons for this constant upswing in this niche poultry sector," said ASSOCHAM secretary general D.S. Rawat while releasing the study.
"But sporadic bird flu outbreaks in different parts of the country along with lack of storage and processing facilities and rising prices of feed stocks including soymeal and maze have severely hit the poultry exports," said Rawat.
Maze accounts for over half of total production cost of poultry feed and the poultry sector consumes over 50 per cent of total maze production in the country.
Broiler meat and table eggs account for most of the domestic poultry market as India is the third largest egg producer and fourth largest broiler meat producer in the world. Besides, the Indian poultry sector has shifted from a live-bird market to a chilled/frozen-product market.
Nearly three million tonnes of broiler meat and about 2.86 million tonnes of eggs are produced annually in India, said the ASSOCHAM study.
Southern India accounts for majority of total poultry production and consumption in the country. Andhra Pradesh, Karnataka, Kerela, Tamil Nadu and Maharashtra in the west and Haryana, Punjab in north are key regions in this aspect.
Significant breakthrough in poultry science and technology together with breeding of genetically superior birds capable of high production, manufacturing of high-tech poultry equipments are key reasons for growth in egg, meat production.
There are a plethora of opportunities for foreign direct investment (FDI) in the poultry sector in areas like breeding, medication, feedstock, vertical integration and processing but lack of infrastructure like power and transportation are major turn off in this aspect, points out the ASSOCHAM study.
Nearly two crore farmers (including agrarian farmers) are employed in poultry industry. Currently, there are about 1,000 hatcheries operating across India.