What is the economic impact of poultry? This makes it easier for smallholder farmers and new economy to venture into the sector and earn some income. Poultry business is one of the most important and rapidly growing sub-sectors of the world’s agricultural trade. It has been providing solutions that are constantly growing, adding value to both developed and developing economies. Rearing of birds and processing which are chicken, ducks, turkeys, and other domestic birds for their meat, eggs and feathers is known as poultry farming. This paper has therefore sought to explore and establish the role played by the poultry industry in the global economy in order to assess the economic importance of the poultry industry.
Rapidly developing sector:
While it has been a few decades the global poultry industries have been growing steadily and encouraging more investment and employment. This sector has experienced dramatic growth, primarily due to technological arrived at, enhanced animal rearing techniques, quality feeds, and efficient disease control mechanisms.
What is the economic impact of poultry?
The production of poultry, therefore, presents a range of competitive advantages because it is usually associated with low fixed capital costs and variable costs. economic impact. This makes it easier for smallholder farmers and new economy to venture into the sector and earn some income. Besides, the poultry farming section emits less environmental impacts compared to other livestock farming sections, hence suitable for the promotion of the sustainable sector of farming.
The economic impact of the poultry industry:
MSc & BSc Dissertations, University of Wales, Institution of Food and Agricultural Trades, Aberystwyth, Wales The economic importance of the poultry industry the role of the poultry industry in the UK economy from a historical perspective Evans, D.E., (1941) Economic Science, Sept 1941 Article 7 The poultry industry in relation to food production for animal consumption in wartime Palevsky,
The role of the poultry industry is extended widely in the economy because it related with many aspects like agricultural sector, food industry, trade and employment sector, etc. Some of the key contributions of the poultry industry to the global economy are:
- Employment Opportunities and economic impact: In the poultry farming sector employment within different areas like production, processing and marketing are available. The poultry industry has grown since 2006 by over $ 30 billion and employs more than 1.5 million people, being a major contributor to poverty alleviation.
- Exports and Imports: The market for poultry and its products – meat and eggs in particular – has been steadily on the rise in the past few years. The U.S, Brazil, and China are the major poultry exporter while the importer lists include Japan, South Korea and the European Union. Economic development of various countries has been increased led by their increase in exports in addition to offering many employment opportunities and minimizing poverty.
- Foreign Direct Investment (FDI): Due to the growing demand for poultry produce globally the sector has received significant FDI. The establishment of investments in poultry production, processing and distribution facilities has taken a lead in pushing up the industry and has fostered economic development among the countries of interest.
- Increased Agricultural Productivity: Through the shocks that the poultry industry has spread to the country, modern technology, and efficient farming practices have boosted agriculture productivity. This growth has enhanced access to food security, decreased hunger level among consumers and brought down the cost of offering poultry products which has favorite consumers.
Challenges and economic impact of the Poultry Industry:
The poultry industry is enormous and has several economic advantages, but the industry has several challenges and opportunities. Some of these include:
- Avian Influenza and Other Diseases: Avian influenza for instance has been known to wipe out poultry and subsequently economic consequences. To address the threat of diseases on the sector and the economy, the sector requires sound disease prevention and control measures.
- Climate Change and Sustainability: Climate change impacts harm the poultry production, since high temperatures and irregular seasons have negative effects on animals. For the industry to overcome these challenges, it must embrace proper farming practices that will support sustainable practices, popularization of new technologies and generally embrace environmentally friendly practices for a new future.
- Consumer Demand and Preferences: Market factors such as consumers’ preferences and demands are the main driving force of new market opportunities on the poultry products. The trends mentioned below can help the industry to reap the benefits of product diversification and market differentiation.
Conclusion:
As such, the poultry industry is an important contributor to the economic value chain and so contributes to many economies across the world. Technology enhancement, better farming methods and enhanced world trade have been known to be responsible for the expansion of the industry. However, the ever-emerging diseases, climatic change and new trends of consumption are some of the issues that should be coped with. This way the poultry industry will be sustained and make more contribution to the growth of the nation’s economy, job creation and food security in the future years. You can contact us here.
