Egg prices jump 40% to Rs 7.5 a piece on tight supply, low production
Egg 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, Poultry Federation of India President Ramesh Katri said on Monday.
The upward trend would continue in coming months as egg production is likely to be lower by 25-30 per cent 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 Rs 4 per piece in view of higher domestic output while the cost of production had stood at Rs 3.50 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 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.