Budget expectations - Mr Amit Saraogi, MD, Anmol Feeds Pvt. Ltd.

"There has been significant rise in the price of maize in the country which is directly affecting livestock feed market. The maize price had been on all-time high in range of Rs. 23 and refuse to cool down even during harvesting time.

There are many reasons that have contributed to this hike like droughts in several states, fall army worm that have destroyed crops in Maharashtra and Karnataka.

Moreover, a 5% GST has been imposed on raw materials such as Soya DOC, Rice Bran and MBM essentials. All these factors are affecting the industry significantly. There is 7-8% deficit in the production of maize in domestic market.

Hence it is suggested that an import of 1 million MT can help meet the shortfall and cool down price in short term. However, government should take measures to meet the demands of the industry and provide some relief from the situation. The Import of maize should be allowed duty free this year to provide relief to farming sector reeling under abnormally high maize prices.

Further to boost the sector, government should also invest in and undertake programs that will help in creating awareness among farmers on how to use modern feed and farming techniques which in turn will help Aqua farmers in earning more profit. Policies should also be undertaken that will help farmers access the much-needed capital. The Kisan Credit Cards should also be handed out at a faster rate so the farmers can access this capital to help them grow further."

Source : Equity Bulls

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