Eggs: Latest on the price hike menu
Consumers in Bangladesh are already facing a difficult time meeting their demand due to the increase in the prices of essential commodities. And now they are forced to spend more money to buy eggs, the low-cost sources of protein.
In Dhaka, retailers are selling the farm egg (red) at as high as Tk 125-130 per dozen as prices shot up over the last some days.
For two pairs of eggs on average, a consumer has to pay 20 percent higher now from a month earlier, data from the Trading Corporation of Bangladesh (TCB) showed.
According to the TCB, the prices of two pairs of eggs were Tk 42-43 yesterday from Tk 30-32 some days ago in Dhaka city.
Egg producers claimed increased production costs for the eggs, as they have to pay higher to buy feed ingredients, chiefly soybean meal and corn.
They said in the last few months the cost of soybean meal and maize rose by 30 percent to 40 percent.
Increased transport cost is another reason for the price spike of the protein item, they added.
Egg producers say many chicken farmers have suffered losses due to the Covid-19 crisis. Many poultry farmers could not sustain the business. As a result, egg production has also decreased.
Nurul Alam Shikdar, a wholesaler in Pallabi Extension area of Mirpur, said the prices of eggs increased over the last few days. They are selling the farm egg (red) two pairs at Tk 42-43.
He said the customer who used to buy one dozen eggs earlier is now taking four pairs. On the other hand, those who buy two pairs now taking two pieces.
Kayser Ahmed, managing director of Diamond Egg Ltd, said 75 percent of chicken feed has to be imported. The price of food raw materials in the world market has gone up. Because of this, feed cost has increased. Feed millers have reduced feed production due to the raw material crisis.
He said the worker's costs and electricity bills have gone up. The growers fear that the food supply will be cut off. Then it will be difficult to rear and keep the chicken alive.
The price of eggs will also increase. Apart from this, the overall production of eggs has also decreased by 20 percent, Ahmed added.
Taher Ahmed Siddique, president of the Bangladesh Egg Producer Association, said in the country egg production has come down. Due to which the current supply of eggs is not sufficient against the demand. As a result, the price of eggs has gone up.
He said Earlier, a year and a half ago, the two pairs of eggs were the highest in the history of the country at Tk 48.
"The upward trend of the price of eggs may continue until the feed prices low down."
According to producers, about 3.5 crore to 4 crore pieces of eggs is required to meet the daily demand in the country.
Prices of local chicken and duck eggs rose to TK 150 per dozen in the Kawran Bazaar, one of the largest kitchen markets in the capital yesterday. It is being sold at Tk 165 at the retail level.
SM Nazer Hossain, vice-president of the Consumers of Bangladesh, said there is inflationary pressure in the country at the moment and its effects hit to all sectors.
He said as a result, alongside the production cost, Egg producers living cost has increased. So, they have increased the price of their products to cover this extra cost.
"The essential commodities price rise is becoming a big problem day by day for the limited incomes people."
If this continues, it won't take long for food and nutrition security to come under a major threat, Hossain added.