A week after restricting futures trading on some agriculture commodities including Soy meal and extending the deadline till March 2022, the Center has now imposed stock-holding limits on soy meal, in a bid to control its prices. The stock holding limits will be in place till June 30, 2022.There had been mixed response on the decision of putting holding limits
Neeraj Kumar Srivastava, Chairman CLFMA and Managing Director NOVUS International Inc. who had been working very closely with all other poultry association on soy problem faced by poultry industry. Recently participating in a debate on ZEE BUSINESS on the issue of stock holding limits on soy meal appreciated the move and said that poultry and live stock industry is hugely depend on Soy meal. He further said that last year due to very high prices of soy meal poultry and livestock industry had to incurred huge losses. That time all the associations of poultry industry came together and approached policy makers to allow import of soy meal to arrest the rising prices and government of India took a decision to allow import of Soy meal to give relief to poultry industry. He said that the price of soy directly impact the poultry, aqua and other livestock industry.
He further said that decision of allowing the import and then ban on forward trading and now this decision of stock holding limit will certainly help poultry and live stock remain alive.
As we all know Soy meal is a key constituent of poultry feed meal and its rates are directly connected to soybean prices because the seed has more than 80% meal and 18% oil content in them. This season, despite a good harvest, soy bean prices have soared almost 76% in the domestic market, benefiting farmers on one hand but hurting the poultry industry on the other.
Post Date: 28 Dec 2021