Of course they will, and that is also one of the reasons for their margin contraction in the recent quarter. If they bought their poultry feed from outside instead of manufacturing it in-house their expenses would have been even higher due to the added distributor margin. Are maize prices increasing bad? Yes. Is SKM suffering as much as its competition? In my opinion - no. SKM looks to be better placed.
Sometimes I wonder if selling excess poultry feed could be an added source of income for the company, but I guess we will never know.
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