Centre set to allow import of GM soymeal to check rising feed prices

Feed meal prices have risen due to a staggering 64% increase in prices of soymeal, which is one of the main constituents of feed meal along with maize

With the poultry industry hit badly due to rising feed meal prices, the Central government is all set to allow import of 1.2-1.5 million tonnes of genetically modified soymeal, top government officials said Tuesday.

Feed meal prices have risen due to increase in prices of soymeal, which is one of the main constituents of feed meal along with maize.

The poultry sector said that the average price of soybean meal has risen by 64 per cent between April and July this year which is badly hurting their margins.

“An official order is expected anytime now,” a senior government official told Business Standard.

He said as a pre-condition, the importer will have to mandatorily declare that imported soymeal will only be used to make animal feed for livestock.

The official said the decision to allow one-time import of GM soymeal has been jointly taken by the ministry of environment, commerce and industry, food processing as well as animal husbandry, dairying and fisheries.

The over Rs 80,000 crore domestic poultry sector has been reeling from the impact of the high feed meal prices due to rising soymeal rates since the last few months.

It has repeatedly approached the concerned line ministries for allowing one-time imports to tide over the condition before the new domestic soybean crop starts arriving in the market from November onwards.

Though some experts said that allowing soymeal imports just when kharif sowing of soybean crop is under progress in several parts of the country could be detrimental to the interest of the growers more so when several of them are protesting against the three farm acts for more than six months now, poultry industry players contend that there is little option left as domestic pipeline stocks are virtually dry.

The All India Poultry Breeders Association in a representation to the government made some weeks back wanted immediate permission to import 1.2 million tonnes of soymeal to control the surge in prices which they claimed is impacting the poultry and livestock sector.

“Maize prices have gone up from Rs 1,550-1,600 per quintal in Jan-Feb 2021 to around Rs 2,100 per quintal now, while soybean meal rates have jumped from Rs 35-36 a kg to around Rs 93 per kg during the same period. Egg prices at the farm-gate level have not risen in the same proportion,” Sanjeev Chintawar of National Egg Coordination Committee (NECC) had told Business Standard.