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  Business   Economy  20 Nov 2017  Egg prices shoot through the roof! Cheaper to eat chicken now

Egg prices shoot through the roof! Cheaper to eat chicken now

THE ASIAN AGE.
Published : Nov 20, 2017, 10:00 am IST
Updated : Nov 20, 2017, 10:00 am IST

This unprecedented rise in prices has been attributed to the recent surge in vegetable prices.

Prices of eggs have skyrocketed in the past month owing to a surge in demand with the result that eggs have now become almost as costly as chicken. (Photo: AP)
 Prices of eggs have skyrocketed in the past month owing to a surge in demand with the result that eggs have now become almost as costly as chicken. (Photo: AP)

Mumbai: Egg protein may soon become too costly to afford as egg prices have been steadily rising to the current rate of Rs 7 per piece.

At this rate, eggs are almost as costly as chicken. Poultry farmers in Mumbai have been selling eggs at a monthly average of Rs 582 per 100 eggs in November as compared to Rs 422 in October.

This works out to around Rs 6.5 to Rs 7.5 per piece, which is Rs 120-Rs 135 per kg (supposing the average weight of egg is 55 gms). This is almost equivalent to Rs 130 to Rs 150 – the rate at which chicken is sold.

According to an article in Indian Express, a leading egg products manufacturer in Erode, Tamil Nadu said “Egg prices usually rise at this time due to winter demand, while broiler rates fall because supply goes up, with the birds taking less time to reach slaughter weight. But we have never seen this kind of price spiral in eggs before.”

This unprecedented rise in prices has been attributed to the recent surge in vegetable prices and a consecutive 15 per cent surge in demand for eggs, according to Raju Bhosale, executive member of the National Egg Coordination Committee (NECC). “When vegetables turn costly, people switch to eggs, pushing up its rates as well. This is simple substitution effect,” claimed Bhosale.

Also, drought in parts of Karnataka and Tamil Nadu led to prices of maize rising which is the main input for poultry production.

Tags: egg prices, chicken prices, necc
Location: India, Maharashtra, Mumbai (Bombay)