Egg on the boil! Prices shoot up 40%

NEW DELHI: Hit by tight supply in the many states, egg prices in the country have increased by up to 40 per cent. Poultry Federation of India President Ramesh Katri on Monday said, “the prices have jumped by up to 40 per cent to Rs 7-7.50 per piece in retail markets in most parts of the country, hit by tight supply.”

He added that the upward trend would continue in coming months as egg production is likely to be lower by 25-30 per cent this year.

“Egg prices have increased significantly as many poultry farms have reduced production for the current year because they did not get better rates last year,” Katri told PTI.

Due to the losses last year, apprehensive of getting lower rates again and fear of animal welfare activists, many have cut down their production and some have shut their poultry farms, he explained.

Egg prices in retail markets in the national capital are ruling at Rs 7-7.50 per piece, up from Rs 4-5 last year, according to trade data.

A similar situation prevails in other cities as well across the country.

Egg production was around 83 billion in 2015-16 and it remained higher in 2016-17 as well, the government data showed.

Most of the consignments from the southern states have been stalled with wholesalers refusing to pay the amount producers have demanded. Traders fear the situation may push up prices further.

The sudden price hike has been prompted by an increase in demand at the onset of winter.

Meanwhile, the West Bengal government has asked the state 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 said.

Date : 27 November 2017

Source : https://timesofindia.indiatimes.com/business/india-business/egg-on-the-boil-prices-shoot-up-40/articleshow/61723317.cms