Right from the time, feeding in poultryfarm business has been regarded as the backbone of poultryfarm business because feeding covers almost 70% of the cost of raising birds and the major problem is the price of feeds that keep soaring higher everytime.
Before I ventured in to poultryfarm business, the issue of price increase in bird's feed is the main topic of my friends that are in to poultry farming as at that time up till now.
I vividly remember that last year around this time, bird's feed are sold at the rate of #9,000 then compare to now which is #15,000 ($12.5). This means that in just a year the price of bird's feed has increased with the difference of #6,000 ($5) which is too much.
Impact Of Increase In Bird's Feed Price
Due to the high cost of bird's feed, many farmers have started quitting the poultryfarm business due to financial management.
The increase in bird's feed price has lead to increase in price of chicken per kilogram which I believe is a good news due to the festive season going on but my fear is what will happen when the festive season is over.
Challenges Regarding Increase In Bird's Feed Price
Much of time, it is normal for the price of certain products or every products in the market to increase due to some factors that is understandable. Infact there has been much of time when price fluctuate in the market but when it comes to the price of bird's feed, it is different things entirely because once the price of bird's feed increase then it will never come down to the initial price again especially here in Nigeria.
The increase in bird's price from time to time has really been a great challenges as you can't predict the actual price you will meet bird's feed.
Due to continuous soaring of bird's feed price, poultryfarm business has become more expensive and not easy to manage with small capital.
Starting poultryfarm business is now becoming a very tough decision to make before venturing into it as you have to think twice and watch your pocket before making any decisions.
The most scariest thing about poultryfarm business is that the business will keep becoming more expensive in as much the price of bird's feed keep increasing. During this festive period, I have buy the feed at different price which I'm at disadvantage because I was unable to stockpile due lack of finance. I bought feed at the rate of #13,500 ($11.3) five weeks ago, and three weeks ago I bought at the rate of #14,700 ($11.3) and today I bought exactly the same feed at the rate of #15,000 ($12.5) which is very scary.
My concern is whether the increase of bird's feed is going hand to hand with the price of chicken which I believe it does at the beginning but right now the increase of bird's feed is eating out the profit of poultry farmer.
Poultry farming is surely lucrative but it's favorably for those who invest in large quantity rather than someone like me who is a small scale poultry farmer.
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