Why is the price of poultry feed soaring?

Soybean meal, one of the main ingredients of feed for poultry, domestic animals and fish, is now 41 percent more expensive in Bangladesh.

This has occurred over the last year as prices increased globally resulting in grave concerns for farmers.

What is the reason behind this price hike? What does it mean for farmers? And why is India, usually an exporter of soybean meal, now importing the product from Bangladesh?

In Straight from Star Newsroom, Ahsan Habib is joined by The Daily Star business editor Sohel Parvez to discuss the reasons behind this unusual increase in soybean meal and its impact on the country's food production.