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Tanzania is inviting more investors in the production of animal feed to help raise the supply of the products and reduce prices. The country, which has a population of 36.6 million cattle, 26.6 million goats, 9.1 million sheep, and 97.9 million chickens, among others, witnessed a sharp rise in the prices of animal feed during the past two years, largely due to a rise in demand for soybeans in China and other climate-related factors.
Tanzania is inviting more investors in the production of animal feed to help raise the supply of the products and reduce prices. The country, which has a population of 36.6 million cattle, 26.6 million goats, 9.1 million sheep, and 97.9 million chickens, among others, witnessed a sharp rise in the prices of animal feed during the past two years, largely due to a rise in demand for soybeans in China and other climate-related factors.
Tanzanian Minister for Livestock and Fisheries Development, Mr Abdallah Ulega said the government was working on how to attract more investments into the area.
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The cost of production of animal feed is pushing the prices of fish, chickens, and other types of livestock up compared to some regional peers. The minister urged financial institutions to start issuing loans to producers of animal feed and make their business sustainable.
