Business News
Eggs at Rs 7.5 apiece: Prices shoot through the roof on short supply as many shun pricey vegetables
Rising vegetable prices is pushing up demand for eggs thus resulting in a surge in their prices, according to various media reports.
A report in the Indian Express on Monday said eggs in Pune are as pricey as chicken in kilogram terms. The report says wholesale rate for eggs is Rs 585 per 100 pieces, while they are selling at Rs 6.5-7.5 per piece in the retail market. Eggs are a key source of protein for many poor families.
A report in The Pioneer attributes the sudden rise in egg price in the National Capital Region to the increase in vegetable prices.An report in the Business Standard on Saturday said the prices of eggs have risen 25 percent in one month in the benchmark Hyderabad market. Interestingly, the prices of chicken have fallen about 30 percent during the period, the report says quoting prices from Poultry Bazaar.
“The poor who cannot afford vegetables, which are available at exorbitant prices in retail, are preferring eggs in their diet,” poultry farmer Manoj Sharma has been quoted as saying in the report. According to him, this has pushed up the demand for eggs.
What is compounding the situation is the short supply in the market, due to lower production.
Balram Yadav, managing director, Godrej Agrovet, has told the BS that supply deficit will continue until March.
The report in The Pioneer says the in 2016-17, the country’s egg output during summer and rainy season was 55.11 billion, which was just about 63 percent of the targeted 87 billion.
As per the agriculture ministry data cited by the report egg requirement per person in India is 180 per year, while the actual availability is 67.
Meanwhile, the West Bengal government has asked the West Bengal Poultry Federation to cap the prices at Rs 6 per piece.
The Animal Resources Development Department has warned the federation of “strict action”, including discontinuation of incentive, if prices exceed the prescribed limit, a senior officer of the department told PTI.
