Egg prices drop by Tk25-30 per dozen in Dhaka

The price of eggs dropped by Tk25-30 per dozen in Dhaka's large kitchen markets on Friday (18 October), selling for Tk150, while local kitchen markets and groceries priced them at Tk155-160 per dozen.

The price of a dozen eggs surged to Tk180 on Monday and remained at that level until Thursday, when rising supply caused it to decline to Tk170-175 in some markets.

Saiful Islam, an egg trader at Karwan Bazar, said the supply of eggs in the market has been increasing, which is leading to a decrease in prices.

"The wholesale price for 100 eggs has dropped by Tk200. Three days ago, we bought 100 eggs for Tk1,400. Today, we bought them for Tk1,200," he said. 

Retail price is now Tk155-Tk160 per dozen, Saiful said, adding that they can't sell for any less as they have to pay shop rent and many eggs break during transportation.

After egg prices began to surge, the government took several initiatives to increase supply and bring down prices. 

It has permitted the import of eggs with a reduced import duty. The existing 25% import duty has been cut to 5%. This duty relief will be available until 15 December.

Besides, corporate entities started supplying eggs in Kaptan Bazar on Thursday. The main coordinator of the  initiative is the Bangladesh Poultry Industries Central Council. 

The Council said that although this activity will initially start in Dhaka, it will impact the entire country.

Under the price set by the government on 15 September, each egg should be sold for Tk10.58 at the producer level, Tk11.01 at wholesale, and Tk11.87 at retail.

Mohammad Jobayer, a buyer at Kallyanpur market, said it is not enough for the government to just set prices. "There must be strict monitoring to ensure that the sales are actually happening at the government-set prices."

Chicken and veggies

The government also fixed the prices of broiler and sonali chicken at Tk179.59 and Tk269.64 per kg at the retail level, respectively.

However, visiting the capital's kitchen markets, it was observed that broiler chicken was being sold at Tk200-205 per kg while sonali chicken at Tk290-300 per kg.

Meanwhile, prices of vegetables have dropped slightly. 

"On average, vegetable prices have dropped by Tk10 per kg," said Sirajul Islam, a vegetable trader at a kitchen market in Kalyanpur.

"Pointed gourds and lady's finger are currently priced at Tk80 per kg each, yardlong bean and long eggplants at Tk100 per kg each," he said. 

Market experts said the September to November period is a lean season when key crops are in the fields, typically causing food prices to rise. This year, however, prices had already increased during the production season and have not decreased. 

Additionally, recent floods and heavy rainfall have severely impacted vegetable production, creating a supply shortage that has further driven up prices, they said.

Currently, potatoes are selling for Tk60-65 per kg. After the production season, potato prices rose to Tk55-60 in April and further increased to Tk60-65 in July, without any subsequent decline. 

Similarly, onion prices surged to Tk110-120 per kg at the beginning of July, and they have remained at that level in the capital since then. Rice prices have also fluctuated several times since June.

Professor Abu Noman Faruq Ahmmed from the Plant Pathology Department at Sher-e-Bangla Agricultural University said that while market syndication can be blamed, it is essential to confront the realities of the situation. 

"Rainfall and flooding raises prices because farmers cannot harvest and crops are damaged. When the expected vegetables fail to reach the market, prices rise, allowing traders to capitalise on the situation for additional profits," added the professor.