April 2, 2020

COVID-19 could cost Bangladesh poultry industry US$188 million

Mashiur Rahman, Bangladesh Poultry Industries Central Council (BPICC) president said the industry's losses are due to a decrease in demand, lower production and falling prices because of COVID-19, reported Bdnews24.com.

By April 4, 2020, the BPICC president said losses would have passed XXX Tk 11.5 billion (~US$135 million; 1 BDT = US$0.012), crossing Tk 16.5 billion (~US$188 million) if the shutdown persists a week longer. The Bangladeshi government extended the country's shutdown to April 11, 2020.

He said the poultry industry will incur losses of TK 1 billion (~US$11.7 million)every day, and the market needs about a month to recover, adding that the industry has sought the government for economic assistance.

While panic buying has pushed the price of essential commodities such as rice and lentil, prices of chickens and eggs have dropped sharply.

In addition, the Poultry Research and Training Centre under the Chattogram Veterinary and Animal Sciences University, the only certification authority in the country remains closed during the COVID-19 outbreak. This has resulted in raw poultry materials unable to be released from the nation's port.

-      Bdnews24.com