August 22, 2023

Potential for 1kg of chicken sold at US$3.70 in Sri Lanka as government cuts corn import tax

The price of one kilogramme of chicken in Sri Lanka can be sold at Rs.1,200 (US$3.70) in the coming days as the Sri Lankan government has taken measures to slash the import tax on corn, the Association of Animal Production said.

The association's chairman, Ajith Gunasekara, also expressed confidence that corn stocks required to produce animal feed can be imported within a period of two weeks.

He added that owing to the import tax cut, an egg can be priced at Rs.40 (US$0.12) in the near future.

On August 18, the government announced that the import tax of Rs.75 (US$0.23) on one kilogramme of corn has been reduced to Rs.25 (US$0.08).

Finance State Minister Ranjith Siyambalapitiya explained that the move aims to bring down the price of animal feed produced using corn.

- NewsIn Asia