Liberia invests US$26 million in construction of agro-industrial poultry complex
LIBERIA – Liberian government has invested US$26 million in the construction of a poultry farm in the country through a complex financial agreement to boost the poultry sector in the country.
According to the country’s president, Mr Weah, the project is aimed to improve the agriculture sector through the construction of an agro-industrial poultry complex that will consist of an integrated egg farm including feed mill, egg packing station, workshop centre, and other necessary units.
He added that the total cost of the investment will be comprised of the Export Credit Facility Agreement to the tune of EUR 21,558,226 and the Down Payment Facility Agreement valued at EUR 4,520,643.
“I trust the Legislature will ratify this Agreement as it will have a significant impact on our agriculture sector by providing food security and creating jobs for our people,” the President urged.
He also highlighted that the agreements were both signed between the Republic of Liberia through the Ministry of Finance and Development Planning as a borrower and arranged by Bank Leumi Le-Israel B.M. with Bank Leumi Le-Israel B. M. acting as an agent.
This has come following the country’s local poultry farmers expressing their interest to supply to their own markets amidst the importation of poultry products in Liberia.
According to Liberia’s Poultry Farmers Association administrator, Joseph N. Kodah, there is a need for the government to empower local poultry farmers to reduce the level of poultry products imported into the country.
He noted that Liberia still largely depends on foreign countries for poultry products while the poultry industry faces numerous challenges such as limited access to feed and drugs, lack of or limited veterinarians and among others.
He added that raising the poultry industry could be an important source of revenue for small-scale farmers in Liberia, but poultry production in the country is still laden with many constraints.
“Some of the constraints the poultry farmers have outlined include the lack of feed, the high-cost price of medicines, lack of farm equipment, lack of access to loans,” he outlined.
In 2021, Liberia imported $43.8M in Poultry Meat, becoming the 86th largest importer of Poultry Meat in the world. In the same year, Poultry Meat was the 11th most imported product in Liberia.
Liberia imports poultry from Poland ($14.2M), Brazil ($9.72M), Netherlands ($5.22M), Ukraine ($2.47M), and Russia ($1.87M).
Earlier this year, President Weah suspended import tariffs on agriculture products and materials with immediate effects on the country.
Agriculture Products exempted were Live cattle (bovines) for breeding, Live pigs (swine) for breeding, Live sheep and goats (small ruminants) for breeding and Live fish for breeding.
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