Sri Lanka's State Trading Corporation (STC) has announced plans to import one million eggs per day from five chicken farms in India in order to meet the growing market demand.
The decision came after the severe economic crisis rocked the island nation. The high inflation rates have eroded the purchasing power of the people, resulting in adverse effects on livelihoods and a reversal of past development gains.
In April of the previous year, Sri Lanka declared its first-ever debt default, further intensifying the economic challenges.
Currently, Sri Lanka has imported 20 million eggs from India, with 10 million eggs already released into the market. These eggs are sourced from two chicken farms in India, and the Animal Production Department has given approval for the purchase of eggs from three additional farms.
This decision was made based on the reports provided by the officials from the Animal Production Department and the State Trading Corporation, who visited poultry farms in India.
The import of eggs from India will be adjusted based on market demand, as stated by STC Chairman Asiri Valisundara. The imported eggs will be made available to various sectors such as bakeries, biscuit manufacturers, catering services, and restaurants at a price of SLR 35 per egg.
The aim of importing eggs from India is to address the shortfall in the local market and ensure a stable supply for the aforementioned sectors. However, it is important to note that this measure is a temporary solution to meet the immediate demand and stabilize the market.
Sri Lanka continues to face significant economic challenges and is actively working towards the normalization of its crisis-hit economy.
