Govt. slashes import tax on maize

Saturday, 19 August 2023 01:06 - - {{hitsCtrl.values.hits}}

All-Island Poultry Farmers’ Association hails Govt. move, expects better supplies and lower prices soon

State Minister of Finance Ranjith Siyambalapitiya yesterday announced that the Government has slashed the import tax on maize by Rs. 50 from 17 August.

Taking to Twitter he noted that the import tax of Rs. 75 per kilo of maize has been reduced to Rs. 25.

Siyambalapitiya explained that the move aims to bring down the price of animal feed produced using maize.

Separately, All-Island Poultry Farmers’ Association Chairman Ajith Gunasekara welcoming the move emphasised that it will enhance supplies, and gradually result into a reduction in poultry and egg prices.

“One of the main cost-related challenges faced by farmers was the inability to secure sufficient stocks of corn, which accounts for 80% of their nutrients. After much deliberation, our association and the Agriculture Ministry have jointly requested the Treasury to allow them to import corn. This move will hopefully reduce production costs and improve the industry’s competitiveness,” Gunasekara told the Daily FT.

Sri Lanka produces around 3,000 million per year but it has reduced to 2,000 eggs per year following the crisis. Eggs are considered the most affordable and protein-rich diet, making their accessibility crucial for the general public.

The association earlier this month assured that by December, the industry can achieve self-sufficiency, leading to prices dropping below Rs. 35, but called on the Government to gradually reduce egg imports from India as the local producers’ eggs will release higher output to the market in the coming months.

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