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  Business   Economy  21 Nov 2017  Three reasons why eggs have been acting pricey

Three reasons why eggs have been acting pricey

THE ASIAN AGE.
Published : Nov 21, 2017, 11:08 am IST
Updated : Nov 21, 2017, 11:08 am IST

Poultry farmers in Mumbai have been selling eggs at a monthly average of Rs 582 per 100 eggs in November.

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: In the chicken and egg problem, eggs seem to be losing ground as prices have been steadily rising to a retail rate of Rs 7 per piece.

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. Clearly, eating chicken has become cheaper now.

So why have egg prices been shooting through the roof? Let’s unscramble this:

1. Prices of vegetables have been rising

The rise in prices of vegetables have led to a increased demand for eggs which are rich in protein. Therefore, the rates of eggs have been pushed up.

2. Low production

According to data provided by National Egg Coordination Committee, about 2.88 crore eggs were produced every day in Namakkal zone of Tamil Nadu during July in 2017, which dipped to 2.87 crore in August, 2.84 crore in September and 2.81 crore in October, reported the Indian Express. The winter cold in northern India resulted in steep fall in egg production.

This coupled with a general rise in demand for eggs pushed up the prices of eggs.

3. Price hike of eggs usual during winter

Egg prices usually rise in winter. Broiler rates fall as birds take lesser time to reach slaughter weight. However, for a bird to lay an egg, it takes much more time. However, traders say this kind of surge has never happened before.

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