News
Chicken and egg production hit by dollar crisis
ECONOMYNEXT – Chicken meat production has plunged 30 percent and egg output 40 percent due to the depreciating rupee pushing up costs of feed imports further affected by foreign exchange shortages, an industry official said.
“Small and medium scale farmers are leaving the business due to feed shortages and because big poultry companies are stopping buy back schemes,” Ajith Gunasekera, President of the All Island Poultry Association said.
Broiler meat output has fallen 30 percent to 12,000 metric tonnes a month from 18,000 metric and prices have shot up, he said.
A kilo of chicken sells around Rs. 1,200, up from around Rs. 460 before the crisis hit. The official inflation rate rose 39 percent in the year to May 2022.
Inflation and currency depreciation have put protein in particular out of reach of the less affluent pushing up malnutrition. Basic starch in the form of rice has rise from 105 rupees a kilogram to 230 rupees a kilogram after the latest bout of money printing while people are losing jobs and wages are cut in the private sector.
Doctors at Lady Ridgeway Childrens Hospital have said they are seeing higher levels of malnutrition among children.
Expatriate workers are being rapped for sending money to their inflation-hit families outside the official banking system to take advantage of much higher exchange rates available outside banking channels.
Eggs which were around 18 to 25 rupees before the latest money printing bout have now shot up to 43 to 50 rupees with production down 40 percent amid feed shortages.
Gunasekera said daily egg production which was around 700,000 to 800,000 has now fallen to around 400,000.
“Chickens are also laying fewer eggs due to nutrition problems,” he said “A chicken will usually lay about one egg a day but without proper feed they will lay fewer eggs.”
Egg prices are up partly due to high transport costs from Kuliyapititya where most of the large egg farms are located to Colombo, he said.
About 73 percent of the cost of raising broilers was feed. Maize which was Rs. 40 to 45 a kilogram has now doubled with supplies low following the failure of the Maha season due to the chemical fertilizer ban. Due to reduced paddy milling, rice polish is also not available.
Forex shortages have made it difficult to import maize or soya meal. The industry is hoping to get some inputs from the Indian credit line.
Parliament yesterday passed the Twenty-Second Amendment to the Constitution Bill and the Judicature (Amendment) Bill with two-thirds majorities, with 158 MPs voting in favour and 63 against each Bill.
The Illankai Tamil Arasu Kadchi (ITAK) and Sri Lanka Muslim Congress (SLMC) voted with the SJB against the Bills.
NDF MPs Ravi Karunanayake and Faizer Musthapha and SJB Badulla District MP Nayana Wasalathilaka were not present when the votes were taken.
The final vote on the Judicature (Amendment) Bill was announced at around 8.08 p.m. after Opposition MPs called for divisions on its clauses during the Committee Stage.
The votes followed a two-day debate which commenced on Thursday (24), after Justice and National Integration Minister Harshana Nanayakkara presented the Bills for their Second Reading.
The Supreme Court’s determination on the Bills was presented to Parliament on Tuesday (22) by Speaker Dr Jagath Wickramaratne. The Court determined that the 22nd Amendment Bill did not require approval at a referendum and could be passed by a special two-thirds majority in Parliament.
The amendment provides for raising the mandatory retirement age of Supreme Court judges from 65 to 67 and that of Court of Appeal judges from 63 to 65. It also provides for the Chief Justice to retire at 67 or after completing six years in office, whichever comes earlier.
The Speaker informed Parliament that the Judicature (Amendment) Bill could be passed by a simple majority.
The SJB opposed the legislation and its MPs attended Parliament dressed in black yesterday. The party also staged a protest at Polduwa Junction, Battaramulla, under the theme “No to 22, which destroys democracy”, with Opposition Leader Sajith Premadasa and several SJB politicians participating.
A valid Taxpayer Identification Number (TIN) Certificate will be required for a range of key transactions in Sri Lanka from November 1, 2026, the Inland Revenue Department (IRD) has announced.
The requirement, introduced under the Inland Revenue (Amendment) Act, No. 11 of 2026, applies to transactions specified under Section 102(3) of the Inland Revenue Act.
Accordingly, individuals will be required to produce a valid TIN Certificate when opening an account at a bank or financial institution, obtaining approval for a building plan, registering or renewing the licence of a motor vehicle, registering land or title to land, registering a business, transferring shares in a company incorporated in Sri Lanka or obtaining a credit card.
In the case of share transfers, both the transferor and transferee will be required to provide TIN certificates.
The IRD said officials handling such transactions had been instructed to ensure that a valid TIN Certificate was submitted before processing or completing the relevant transaction.
The Department advised those who do not already have a TIN to obtain one in advance through its e-Services platform.
It said a printout of the TIN verification result showing the applicant’s National Identity Card number and TIN could also be accepted instead of the certificate.The IRD also reiterated that obtaining a TIN is mandatory for resident individuals aged 18 and above under the applicable provisions.
By Norman Palihawadane
The Sri Lanka Navy brought 25 Indonesian fishermen safely ashore at the Colombo Port on Thursday (24), following a multi-agency rescue operation after their fishing trawler capsized south of Sri Lanka.
The fishermen were aboard the Indonesian-flagged fishing trawler KM Garuda Jaya VI, which capsized on September 22 while in the Australian Search and Rescue Region, leaving the crew in distress at sea.
The merchant vessel MV Moonstone responded to the distress situation and rescued all 25 fishermen from the sea. The vessel subsequently alerted the Maritime Rescue Coordination Centre (MRCC) Colombo about the incident and the rescued crew.
Following the distress alert, the Navy coordinated with MRCC Colombo and deployed two naval craft to bring the survivors safely to shore, with the assistance of relevant authorities.
The 25 fishermen were transferred to the Colombo Port, where they were provided with humanitarian assistance by the Navy.They were subsequently handed over to the Indonesian Embassy in Sri Lanka for further arrangements and onward action.
22A, Judicature Amendment Bills passed with 2/3 majority
TIN mandatory for key transactions from Nov. 1
Navy brings 25 Indonesian fishermen ashore after trawler capsizes
Former Mineral Sands Chairman arrested over recruitment irregularities
Sarana Gunawardena’s wife remanded over alleged bribe
High Posts Committee approves envoy, High Commissioner and SLIC Chairman
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
Sunday Island – 28th March
Sunday Island Headlines – 21 March
Sunday Island – 21st February – Headlines
-
News6 days agoNamal Rajapaksa Buddhist gambit fails, bail denied
-
Features6 days agoWhy the spelling Sri Lankan names in English vary
-
Features6 days agoThree bands, a new identity: Sri Lankan wolf snake recognised as distinct species
-
Business6 days agoSLIIT holds largest-ever convocation
-
News6 days agoVehicle prices drop by up to Rs. 1 mn, says importers’ body
-
News6 days agoGovt monitors reported Saudi death sentence – Foreign Ministry
-
Business6 days agoAll-new Bolero MaXX Pik-Up unveiled in Lanka
-
Business6 days agoLanka’s famed beach shack battles demolition