Olam International invests $150 million in Nigerian poultry facilities
The combined capacity of the two plants reaches 720,000 metric tons of poultry feed annually. The company says that its new facilities directly address a significant supply gap for poultry meat in Nigeria, giving farmers and distributors access to high-quality feed and DOC at competitive prices.
Olam projects that its investment will enhance domestic poultry production by approximately 8 billion eggs and 100 million kilograms of poultry meat – the equivalent of 40 eggs and 0.5 kilograms of chicken per Nigerian per year.
Furthermore, Olam's veterinaries will train nearly 10,000 farmers in best poultry farming practices.
Olam estimates that poultry meat consumption among Nigerians could increase up to 10-fold by 2040, provided domestic supply can meet increased demand and based on prices becoming more affordable for Nigerians3. This would require the poultry feed and DOC supply in -Nigeria to grow at over 10% CAGR per year.
Given around 75% of poultry farming is managed by smallholders, Olam’s poultry initiatives have the potential to indirectly create 150,000 to 200,000 rural jobs for Nigerians as the entire sector is stimulated.
Photo Source: USDA/ Flickr/ Bob Nichols
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