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Tax benefits boost alpaca industry in US
27
Jan '11
The alpaca industry in the United States has received a boost from the tax benefits extended by the government along with the high prices for breeding stock. Animal breeders are now optimistic about the industry and they intend to improve the quality of the fibre so that they can provide good quality raw material to the commercial units in the country.

Though all industries meet the criteria for similar tax deductions, but the alpaca breeders are in a better position as they might reap more benefits in comparison to other livestock breeders as a result of the investments made by them and the sales of their products. Breeding stock alpacas, particularly the top quality ones, are sold from $4,000 upwards to several thousands of dollars in comparison to the sheep, which are generally obtained by the breeders for just few hundred dollars.

As per the 2010 annexure of the tax law, the ranchers have been permitted to write off the overall expense of purchasing their breeding alpacas within that particular year only. As the rearing of these animals generates profit, the ranchers can easily meet the expenses on animal fodder and veterinarian care from what they earn.

Alpacas, which are common in the Andes region, are popular for their high quality fibre. These animals are not killed for the purpose of meat. Until the 1980s, the alpacas were not imported to the US but today the scenario has changed. These animals are now reared throughout the nation, mostly in Ohio and Washington.

Alpaca breeders have accepted that the financial incentives extended by the government have played a major role in the steady growth of this industry. The alpaca industry has several small sized units which produce products from the alpaca fibre such as socks, hats and scarves. These units engage knitters for handmade products. Establishment of commercial mills on a large scale is likely to generate more employment opportunities.

Fibre2fashion News Desk - India


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