Egg prices in the market have slightly decreased following the government's recent decision to allow imports.
Two days ago, the interim government granted permission for egg imports, alongside an increase in market monitoring, which led to a reduction in prices. In just four days, egg prices have dropped by Tk20-30 per dozen.
A visit to markets in Dhaka, including Shewrapara, Moghbazar and Mohammadpur Agricultural Market, showed that farm eggs were being sold for Tk160-170 per dozen at retail. In Karwan Bazar, the price was Tk150 per dozen, while the wholesale price was Tk140.40 per dozen.
Four to five days ago, retail prices of eggs ranged from Tk180-190 per dozen. Additionally, broiler chicken prices remain high, ranging from Tk190-200 per kilogram.
The government's Trade and Tariff Commission reported that 80-85% of the cost of egg production comes from poultry feed. While feed prices have decreased since the Russia-Ukraine war, egg prices have not followed suit.
Feed producers claim the rising US dollar has prevented further price reductions. Small-scale farmers have also accused some businesses of forming a syndicate to raise egg prices.
Suman Howlader, President of the Bangladesh Poultry Association, claims a group based in Dhaka controls the egg market and arbitrarily increases prices, depriving small farmers of fair compensation and forcing consumers to pay more.
Controlling inflation remains a major challenge for the government. In September, food inflation reached 10.40%. In response, the interim government has taken several measures to stabilise the market. On 16 September, the Department of Agricultural Marketing set new price guidelines for eggs and broiler chickens, with eggs expected to be sold at Tk142 per dozen at the retail level. However, eggs were still sold for Tk150-170 per dozen on Wednesday.
To address supply shortages, seven companies have been granted permission to import 45 million eggs. The Ministry of Commerce issued this permission on Tuesday.
Although the government allowed egg imports last month, it had little impact on the market. The Department of Livestock estimates the country's daily demand for eggs is around 50 million.
Currently, egg imports are subject to a 33% duty. To stabilise supply and control prices, the Tariff Commission has recommended temporarily waiving this duty.
BDST: 1721 HRS, OCT 10, 2024
MSK
