Egg prices soar in Ctg despite increased supply

Egg prices in Chattogram continue to rise despite an increase in supply following a period of disruption due to recent floods.

The daily demand for eggs in the city is about 2 million pieces, but the Dhaka-Chattogram highway closure reduced supply to 500,000 pieces for two weeks. Now, around 1.8 million eggs are reaching Chattogram each day, but retail prices remain high.

Wholesale prices have dropped by at least Tk3 per piece with the improved supply, but this has not translated to lower retail prices. Eggs are sold at varying prices across different shops, often exceeding Tk160 per dozen.

Egg wholesalers attribute the higher prices to the damage caused by floods to poultry and dairy farms in at least 11 districts.

The Department of Agriculture Marketing reported that eggs were being sold at Tk140 per dozen in wholesale markets, but retail prices have surged to Tk160 or more.

"Two weeks ago, the price of eggs was high due to the supply disruption, but now the situation is almost normal. Some unscrupulous traders are using the supply shortage as an excuse to keep prices high at the retail level," said Mohammad Siraj Uddin Hossain, deputy director of the Department of Agriculture Marketing in Chattogram.

During visits to markets on Saturday, eggs were observed selling between Tk160 and Tk165 per dozen, while some small grocery shops were charging up to Tk170. Retailers argued that their stocks were bought at higher prices earlier, and the new stock would reflect current rates.

Abdul Sukkur, general secretary of the Chattogram Egg Traders Association, said, "There is no justification for selling eggs above Tk160. The supply is almost normal now, but some traders are manipulating prices under the guise of shortages. We urge the administration to monitor the market and align retail prices with wholesale rates."

He added that wholesale prices ranged from Tk11.60 to Tk11.70 per piece and might drop further by Monday.

Meanwhile, the soaring prices have affected low and middle-income consumers, many of whom are buying fewer eggs or none at all.

Aklima Akhter, a garment worker from the Oxygen area, said, "If there was nothing in the house, I used to rely on potatoes and eggs. Now, the price of eggs is increasing every day. This situation has put us in extreme difficulty."

The Consumer Association of Bangladesh (CAB) pointed to a lack of market oversight due to recent political changes.

CAB Vice President SM Najer Hossain said, "Retailers are selling eggs at higher prices under the pretext of buying them at inflated rates. No government agency is currently regulating them, allowing unscrupulous traders to exploit the situation."

He suggested that the district administration and the Directorate of National Consumers' Right Protection should conduct market monitoring independently to raise awareness and regulate prices."