Egg prices up 40% on tight supply
New Delhi: Egg prices have jumped by up to 40% to Rs7-7.50 per piece in retail markets in most parts of the country, hit by tight supply, Poultry Federation of India president Ramesh Katri said on Monday.
The prices would continue to rise in coming months as egg production is likely to be lower by 25-30% this year, he said. “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.
In 2016-17, egg prices at the farm gate level (wholesale) were ruling below Rs4 per piece in view of higher domestic output while the cost of production had stood at Rs3.50 per piece, he said.
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 Rs7-7.50 per piece, up from Rs4-5 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.