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9 October, 2019 01:51:33 AM
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Traders blame egg price hike on short supply

Prices likely to go down in two to three months
STAFF REPORTER, Dhaka
Traders blame egg price hike on short supply
A man purchases eggs from a seller in the capital. A dozen of eggs is selling for around Tk. 115–120 in the kitchen markets and super shops in the capital yesterday. Focus Bangla file photo

Egg price have been high since August with traders blaming scarcity of supply, bad weather and high feed cost for the hike.

A dozen of eggs is now selling for around Tk. 115–120 in the kitchen markets and super shops in the capital.

Talking to The Independent, Taher Ahmed Siddiqui, president of the Bangladesh Egg Producers Association (BEPA), said the production cost of eggs were higher than the selling cost because of high feed cost, electricity price hike and adverse weather conditions.

“These three factors are responsible for fall in the production and hike in egg prices,” he added.

In the face of continued losses, over 30,000 farms have shut down in the past four years with the owners unable to recover from the damage, Taher noted.

Hit by tight supply, egg prices have jumped to Tk. 9.5-10 from Tk. 8 in retail markets for over a month in most parts of the country, he said.

This trend would continue in the coming months as egg production is likely to fall by 25–30 per cent this year, according to Taher.

He also said the supply chain got disrupted because a number of poultry farms in the country were flooded due to heavy rainfall. “In the rainy season, the supply chain usually gets disrupted. Chickens become vulnerable to various diseases at this time of the year,” he explained.

According to the BEPA president, Dhaka requires about three crore eggs a day, whereas the average supply of eggs per day during the rainy season is not more than 2.5 crore. “So, with the increasing demand, the price also rises,” he said.

Taher also said the current production cost of each egg was Tk. 5-5.5 and the wholesale price was Tk. 6–6.5. Many poultry farms have reduced their production for the current year because they did not get good rates last year, he added.

Last December, egg prices at the wholesale level were below Tk. 4.5 per piece in view of the high domestic output, while the cost of production had stood at Tk 5 per piece, he said.

Taher predicted that egg prices were likely to go down with the increased availability of vegetables and fish in the markets in two to three months.

Jamal Molla, an egg wholesaler at Karwan Bazar, said the

supply of eggs has come down to half of its total supply due to adverse weather. Besides, meat and fish prices have gone up, creating an extra push for hike in egg prices in the markets now.

At the same time, egg traders claimed that the eggs started rotting faster in hot and humid weather and they had to sell eggs at a higher price to make the cost balance.

EA

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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