June 16, 2011 (LBO) – Sri Lanka’s Bairaha Farms, a poultry firm said it is building a 360 million rupee modern broiler farm in the northwestern Puttalam district to increase its production by 15 percent over the next three years. In 2010 prices surged.
“Being of a cyclical nature, the poultry business is characterised by the ebbs and flows of demand, where a flat market can experience sudden surges in demand,” chairman M T A Furkhan said.
“The local poultry industry was unable to meet the surge in demand in the short-term, which resulted in an increase in the
price of both chicken and broiler day-old chicks (DOC).”
However Naleem said day old chick prices were now falling.
“This situation is expected to continue in the short term until the industry corrects this imbalance,” he said.
Bairha also has a stake in a Fortune G-P Farms (Lanka) Ltd, grand parent farm. Naleem said the firm earned 10 million rupees from exports of parent stock in 2010.
Bairaha Farms will build the farm through a subsidiary Nature’s best Industry Ltd, the company that has got a 10-year tax holiday from the state investment promotion agency.
“This farm will be constructed in line with the prevailing norms and standards o