Poultry, fish feed producers seek cash incentive

FE REPORT

Country's poultry and fish feed producers have sought cash incentives on the export of poultry and fish feed, aiming to help boost the sector.

The Feed Industries Association Bangladesh has recently requested the commerce ministry to take steps in this regard. A high official of the ministry confirmed receipt of a letter.

Currently, some 42 sectors are enjoying a 1.0-20 per cent cash incentive facility against export earnings.

The member mills of the association have been exporting their produced feed to Nepal, Bhutan and neighbouring India after meeting local demands, according to the association.

There is a huge demand for Bangladeshi poultry and fish feed in the global market due to its standard quality.

Around 85 per cent raw materials of the sector are mainly dependent on imports. Moreover, the producers can't offer a competitive price to the foreign buyers because of abnormal price rise of the US dollar.

As a result, the country is losing competitiveness in the global export market and failing to strengthen its foreign currency reserve.

The association believes that the sector has a potential to fetch more export earnings if the government brings the sector under the incentive facility soon.

The association was established in 2008. It is the only body for animal feed manufacturers in Bangladesh.

Almost 98 per cent poultry, aqua and cattle feed is manufactured in commercial feed mills.

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