Indian Poultry Exports Soar To Reach New Heights in 2023-24

ENA Sectors 2024-02-28 15:04:55 New Delhi, Feb 28 (KNN) India's poultry industry is witnessing remarkable growth, with exports of eggs and egg products poised to achieve unprecedented figures in the fiscal year 2023-24. Bolstered by robust demand from key markets such as Oman and Sri Lanka, among others, the industry is set to scale new heights, reaching an estimated range of Rs 1,200 crore to Rs 1,400 crore. The surge in poultry exports reflects a significant upward trajectory, with the sector surpassing the Rs 1,000 crore mark within the first nine months of the current fiscal year. This momentum follows a substantial increase in exports during the preceding financial year, where figures doubled to Rs 1,081 crore, compared to Rs 529.8 crore in the previous year. As of the end of December, poultry exports have already reached Rs 1,074 crore, signalling a sustained upward trend. Key to this growth is the expanding demand from strategic markets. Notably, Sri Lanka has emerged as a pivotal destination, experiencing a remarkable increase in poultry imports from India. With a value exceeding Rs 117.19 crore, marking a significant surge compared to the previous fiscal year's Rs 98 lakh, Sri Lanka now stands as the second-largest buyer of Indian poultry products. Similarly, exports to Oman, the largest buyer, have seen a notable rise, reaching Rs 293.90 crore by December, compared to Rs 277 crore in the preceding year. The surge in demand extends beyond Sri Lanka and Oman, with countries like Japan and Qatar also witnessing substantial increases in poultry imports from India. This trend underscores the growing global recognition of Indian poultry products for their quality and competitiveness. Valsan Parameswaran, Secretary of the All India Poultry Exporters Association, attributes this growth to robust demand from key markets and emphasises the need for continued investment in infrastructure to sustain this momentum. He projects the total exports for the fiscal year to reach between Rs 1,200 crore to Rs 1,400 crore. Echoing this sentiment, Mahesh P S, Joint Commissioner and Director at the Centre of Excellence for Animal Husbandry, Bengaluru, anticipates further expansion in both chicken meat and egg exports, reported businessline. With a focus on delivering quality products at competitive prices, coupled with the expanding footprint of poultry hubs across states like West Bengal, Odisha, and Punjab, India is poised to strengthen its position as a global player in the poultry market. Projections suggest that the sector's exports could potentially reach Rs 2,000 crore in the near future, further cementing India's status as a preferred partner in the global poultry trade. (KNN Bureau) 36858 https://knnindia.co.in/news/newsdetails/sectors/indian-poultry-exports-soar-to-reach-new-heights-in-2023-24 2024-02-28 15:04:55 knnindia.co.in Indian Poultry Exports Soar To Reach New Heights in 2023-24