India's Poultry Exports Soar to Unprecedented Heights in FY 2023-24

HYDERABAD, 28 February 2024: India's poultry industry is experiencing a remarkable surge, with exports of eggs and egg products poised to achieve unprecedented figures in the fiscal year 2023-24.

Bolstered by robust demand from key markets such as Oman and Sri Lanka, among others, the industry is set to scale new heights, reaching an estimated range of INR 1,200 crore to INR 1,400 crore.

The surge in poultry exports reflects a significant upward trajectory, with the sector surpassing the INR 1,000 crore mark within the first nine months of the current fiscal year. This momentum follows a substantial increase in exports during the preceding financial year, where figures doubled to INR 1,081 crore, compared to INR 529.8 crore in the previous year. As of the end of December, poultry exports have already reached INR 1,074 crore, signaling a sustained upward trend.

Key to this growth is the expanding demand from strategic markets. Notably, Sri Lanka has emerged as a pivotal destination, experiencing a remarkable increase in poultry imports from India. With a value exceeding INR 117.19 crore, marking a significant surge compared to the previous fiscal year's INR 98 lakh, Sri Lanka now stands as the second-largest buyer of Indian poultry products. Similarly, exports to Oman, the largest buyer, have seen a notable rise, reaching INR 293.90 crore by December, compared to INR 277 crore in the preceding year.

The surge in demand extends beyond Sri Lanka and Oman, with countries like Japan and Qatar also witnessing substantial increases in poultry imports from India. This trend underscores the growing global recognition of Indian poultry products for their quality and competitiveness.

Valsan Parameswaran, Secretary of the All India Poultry Exporters Association, attributes this growth to robust demand from key markets and emphasizes the need for continued investment in infrastructure to sustain this momentum. He projects the total exports for the fiscal year to reach between INR 1,200 crore to INR 1,400 crore.

Echoing this sentiment, Mahesh P S, Joint Commissioner and Director at the Centre of Excellence for Animal Husbandry, Bengaluru, anticipates further expansion in both chicken meat and egg exports. With a focus on delivering quality products at competitive prices, coupled with the expanding footprint of poultry hubs across states like West Bengal, Odisha, and Punjab, India is poised to strengthen its position as a global player in the poultry market.

Projections suggest that the sector's exports could potentially reach INR 2,000 crore in the near future, further cementing India's status as a preferred partner in the global poultry trade.

This news, reported by businessline, signifies India's growing influence in the global poultry market and highlights the sector's potential for continued growth and expansion in the coming years.