Egg price jumps as each sells for Tk15

Highlights

• A hali of eggs now selling for Tk58, up from Tk50 just a few days ago
• A dozen eggs now costs Tk160, up from Tk140 four days ago
• Prices increased by 14.58% in the past month and 22.22% in the past year
• Bangladesh Poultry Association blames corporate syndicates for the price hike
• Govt conducting drives across the country to control egg price

In just a matter of 4-5 days, there has been an abnormal surge in the price of eggs in the capital, with each selling for Tk15, and a hali – four pieces –  for Tk58 on Friday.

Feroz Alam, a shopkeeper in Kalyanpur, said that the wholesale price of eggs has increased.

"We are now selling eggs at Tk58 per hali and Tk15 if you take one. Five days ago I sold eggs at Tk50 per hali," he added.

Traders in the capital's Karwan Bazar kitchen market were selling per hali of eggs at Tk55 and a dozen selling at Tk160 on Friday.

"I sold a dozen eggs for Tk140 four days ago and a dozen for Tk150 a week ago. It was Tk140-Tk145 in the previous week," said a trader named Yasin.

The Department of Consumer Rights Protection conducted a special raid in the Karwan Bazar kitchen market on Thursday (10 August) night to control the sudden rise in egg prices.

At that time, an egg trader was fined Tk20,000 due to the mismatch between the purchase price and the selling price.

Assistant Director of Consumer Rights Abdul Jabbar Mondal, who led the raid, said they have seen a big difference between buying and selling prices of eggs.

"The operation was carried out due to the sudden increase in the price of eggs. We conducted the raid to see if there is any manipulation in the market," he added.

The official said that the operation will be conducted across the country from Saturday (12 August) to control the price of eggs.

The escalating cost of eggs, known for being the most affordable protein source, is forcing many people with limited incomes to reduce their egg consumption. 

Nasima Zaman, resident of the Moghbazar area, said, "I have three children. I used to provide them with eggs every other day before. Now, I can only afford to give them two eggs each per week."

According to the market analysis data from the Trading Corporation of Bangladesh (TCB) for Friday, the current egg price is 14.58% higher than it was a month ago, and it has risen by 22.22% compared to the price from a year ago. Just a year ago, broiler chicken eggs were available at Tk46-Tk50 per hali.

Meanwhile, in Karwan Bazar on Friday, broiler chickens were being sold at a price range of Tk180-Tk185 per kg.

Poultry association blames corporate syndicate

On Thursday (10 August), the Bangladesh Poultry Association (BPA), representing poultry farmers, in a press release said unless the corporate syndicate is dismantled, the cost of eggs and chicken is poised to rise.

Insufficient government oversight has allowed corporate entities to gain control over the poultry industry. The market's instability has caused numerous small-scale farms operating on the margins to shutter due to unfair pricing. This, in turn, has triggered a supply shortage that has significantly impacted the overall market dynamics, the press release said.

Sumon Hawlader, president of the Bangladesh Poultry Association (BPA), said in the press release that small farmers and dealers have developed the poultry industry but today they are helpless. Most of the 50 lakh marginal entrepreneurs directly and indirectly involved in the sector are hostage to the companies.

At present, the production cost of an egg at the farmer level ranges from Tk10.87 to Tk11. The production cost of broiler chicken is Tk170 per kg to Tk175 per kg. But marginal farmers are forced to sell chicken at Tk130 per kg to Tk140 per kg, he said.