Prices of raw materials for poultry feeds have increased sharply in the market over the past few months prompting producers to raise the prices of feeds, reports Republica. The prices of key components of feeds, which are mostly imported from India, have gone up by up to 100 per cent over the past few months said feed producers.

The price of soybean cake rose to 44 rupees (NPR) per kilo from NPR 27 per kilo. Similarly, the price of molasses almost doubled to NPR 25 per kilo while sesame cake, which would cost NPR 21 now costs NPR 24. Likewise, rapeseed meal has soared to NPR 20 per kilo from NPR 18 per kilo over the past four months.

Feed producers have increased the prices of all varieties of poultry feeds by NPR 1 per kilo from this week. After the price revision, prices of B1 category, B2 category and B3 category feeds – which are fed according to the age of the chicken – increased to NPR 27.70, NPR 27.70 and NPR 26.30 per kilo, respectively.

"We have no option but to raise the prices of feed as the prices of raw materials have skyrocketed," said Narayan Hari Khattri, the president of Nepal Feed Industries Association.

Republica reports that more than one hundred feed industries are operating across the country. Entrepreneurs said Nepali feed millers produce about 1,100 tons of poultry feeds daily, which is almost sufficient to meet domestic demand.