The government on Tuesday imposed a ban on export of soybean meal, one of the key ingredients of poultry and cattle feed, to protect the interest of the local dairy and poultry sector.
The Ministry of Commerce issued a notification in this regard saying the shipment of soybean meal would be stopped from October 14.
However, the feed ingredient could be exported till October 20 against the settlement of LCs (letters of credit) or TTs (telegraphic transfers) as of October 13, it said.
According to the notification, if the export of soybean meal continues, the production of cattle and poultry feed may be hampered extremely in the local market, causing the increase of feed prices.
Ultimately, it will affect the livestock sector in the country, it added.
