Economy

Egg Prices Up by 40%; Broilers Cheaper by 25%

Egg Prices Up by 40%; Broilers Cheaper by 25%

Summary: Ramkrishan UpadhyayTribune News ServiceChandigarh, November 19The high prices of eggs have shocked city residents. The retail price of eggs in Pune was over Rs 6 apiece.

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 while broiler prices fall due to short production. And despite egg prices reigning high, ironically many farmers are struggling to make ends meet. In the last four years, over 30% egg farms have shut shop as input costs have been rising while egg prices remained stable. Same time previous year, retail egg prices were hovering at around Rs 5 per piece in the state.

The hike in prices was due to an estimated 15% increase in demand, a report by Financial Express on Monday quoted Executive member of the National Egg Coordination Committee (NECC) Raju Bhosale.

Attributing the price rise to a supply crunch and robust demand, Ranjit Reddy, president, Telangana Poultry Breeders Association, said, "For the last four years, the industry has been going through a rough phase". Meanwhile, in Chandigarh, the prices of eggs have increased by nearly 100 per cent in the past three to four months.

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"When vegetables turn costly, people switch to eggs, pushing up its rates as well. This is a imple substitution effect". The prices of green vegetables and milk have also gone up in the past few days.

"We expect CPI inflation to rise above 4 per cent in November and stay above the RBI's target of 4 per cent through 2018", Nomura said in a research note.

The report also cited 'lower realisation of eggs as well as broilers, ' which was linked to demonetisation of higher currency notes. "The supply deficit is likely to continue for a few more months and the price would remain firm till February or March", said officials of PFI.


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