Industry Insights

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Feb 2024

The growth of the livestock industry is hampered by increasing production costs. What will this condition be like in 2024?

Based on GDP growth in the Livestock Sector in 2023, the livestock sector enjoyed a positive growth rate of around 2.71% (year on year). There was a 3.53-point decline compared to 2022, which might reach 6.24% (year on year). This is caused by several factors, such as an increase in imports of Grans Parent Stock, which causes the supply of DOC (Day Old Chick) to exceed demand, an increase in the price of livestock production facilities, which include DOC or chicks, feed, vaccines, vitamins, and medicines, which causes costs production to increase, the effect of tightening monetary policy is decreasing consumption expenditure, and the supply chain is long, and the poultry industry is not yet read.