The Hindu Business Line : Egg prices cut by 23 pc to Re 1

The wholesale rate was revised downward from last week's Rs 1.30 (per egg) to Re 1. The revised rate was decided in the price review meeting conducted under the aegis of the Namakkal-based National Egg Coordination Committee's (NECC) zonal chapter on Thursday. This is the first time in recent years that the NECC rate has seen such a sharp cut on a single day.

Sources close to the NECC have described the move as part of NECC's measures to impart stability to the procurement price for layer eggs and Thursday's price cut has been endorsed by all the three crucial segments of the poultry sector — layer farmers, feed merchants and the egg trade.

The sources said NECC members of Namakkal were concerned over the move in recent weeks by a section of the egg trade, especially those operating on the export front, to seek rate discount that was far below the NECC announced rates.

This section has sought to procure eggs from growers at about a 15-20 paise discount from the NECC rate, thereby upsetting the market sentiment for the local egg trade which also faced similar situation with requests from some quarters for similar discount for eggs lifted for domestic sale, they added.

One of the reasons attributed for the egg shippers seeking a discount is the declining price in the Dubai market for table eggs; the current prices quoted in Dubai were lower by $2 per carton of 360 eggs, which is reportedly sold in the price band of $11/12 as against $13/14 a few weeks ago.

The table egg exporters, operating from the Namakkal zone, are believed to be procuring about 35 lakh eggs for export daily.