Chicken prices have significantly increased in Pakistan over the last 12 months due to the import restrictions on genetically modified (GM) soybeans.
The federal government banned the soybean imports in October 2022. According to an estimate, chicken prices have skyrocketed by over 35% since then.
As per the industry experts, prices are expected to increase further in the upcoming months, leaving consumers with little hope for relief. Khalil Sattar, the owner of KandN’s, has predicted a significant surge in prices in 2024.
Soybean is a vital source of protein, making up about 30 percent of poultry feed. However, many believe that it can change the DNA of organisms, leading to unpredictable long-term effects.
According to the owner of KandN’s, Pakistan’s yearly imports of grandparent stock (GPs) have dropped dramatically. It should be noted that the GPs are the birds responsible for producing the parent stock, which leads to the production of broilers that we consume.
Pakistan’s annual imports of GPs have decreased from 267,000 birds to just 65,000 this year. This means that the country could have 76% fewer broilers available for consumption compared to last year.
A few months back, Senior Vice Chairman of Pakistan Poultry Association Ghulam Khaliq revealed that the price of soybeans has increased from Rs. 160-170 per kg to Rs. 460-470 per kg due to the import ban.
He added that 40-50 percent of farmers and mill owners have shut down their operations. Due to the shortage of feed ingredients, birds are now taking at least 18 days more to fully mature.
According to him, the farmers want to import soybean meal, not soybean seed. Ghulam Khaliq had predicted that prices of chicken would drop by 40% once the Ministry of Food Security and Research allows soybean meal import.
Source: Pro Pakistani