Financial Daily from THE HINDU group of publications
Tuesday, May 11, 2004
Financial Daily from THE HINDU group of publications Tuesday, May 11, 2004 |
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Agri-Biz & Commodities
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Poultry Export enquiries buoy egg market sentiments — NECC decides to keep prices unchanged G. Gurumurthy
Coimbatore , May 10 LOWER production and better enquiry on the export front have improved market sentiments for the layer egg trade, especially in Tamil Nadu, this week. Though the minimum stock levels currently witnessed have given scope for a further hike — say by another five paise or so — in the wholesale egg price, the Namakkal-based National Egg Coordination Committee's zonal price fixation committee has chosen to retain the farm gate price at last week's level of Rs 1.30 per egg. According to trade sources, the decision to hold back any further increase in the egg rate this week is partly to support the retail market where any quick rise in the rate is feared to bring consumer resistance. Any retail rate going beyond Rs 1.45/Rs 1.50 per egg at this point of time (in a summer month like the current one) might be spurned by the consumers, the sources said. The Namakkal-based egg trade sources told Business Line that besides good export enquiry for table egg, falling production in the region since last month had exerted further pressure on the wholesale price forcing the trade to effect a 10 paise hike in the two weeks between April 29 and May 6. The fall in layer egg production, on account of the summer heat, was originally projected at around 10 per cent, but it is now said that the decline in table egg production in the region is further steeper, say 25 to 30 per cent. The reason for the fall could not be ascertained. It is said that as against the average peak egg production of 1.2 crore per day, the layer egg production is said to have come down to less than one crore pieces a day now. The table egg export from the region on the other hand has kept its pace and three to four container loads of egg shipment move out every day from the region to the gateway port of Kochi.
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