Int’l Animal Feed Exhibition Underway

January 14, 2022
finance & economy

T he Sixth International Forum and Exhibition of Livestock, Poultry and Fish Feed and Related Industries opened in Tehran on Tuesday.

Some 70 Iranian businesses as well as representatives of foreign companies are taking part in the event that will run through Thursday. Those interested may visit the exhibition every day from 10 a.m. to 6 p.m., IRNA reported.

According to CEO of Livestock, Poultry and Fish Feed Factories Association Majid Jafari, Iranian producers of animal feed have a production capacity of 22-25 million tons per year, but they are working at around 30% of their full capacity.

Domestic annual demand stands at 12-15 million tons, he added.

A total of 10.28 million tons of raw materials for the production of animal feed worth $3.78 billion were imported during the first eight months of the current fiscal year (March 21-Nov. 21), registering a 20% and 41% rise in weight and value respectively compared with the similar period of last year, according to the spokesperson of the Islamic Republic of Iran Customs Administration.

“A total of 6.15 million tons worth $2.11 billion constituted field corn, down 6% in volume but up 32% in value year-on-year,” Rouhollah Latifi was also quoted as saying.

More than 2.35 tons of barley worth $685.02 million were imported, registering an 87% and 123% YOY rise in weight and value respectively.

A total of 1.78 million tons of soymeal worth $983.09 million were imported, indicating an 88% and 151% rise in volume and value respectively compared with the corresponding period of last year.

“Imports of animal feed raw material have so far been carried out using subsidized foreign currency [at the rate of 42,000 rials per dollar], but due to limited foreign currency reserves, we are not sure whether the flow of subsidized foreign currency will still be available for imports,” Hassan Abbasi Maroufan, caretaker of Government Trading Corporation’s Commercial Services Department, has been quoted as saying.

The government intends to abolish the cheap import regime at the rate of 42,000 rials per dollar for all goods, except wheat and medicine. The move is expected to further pressurize the livestock industry.

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