With the austere 'Shravan' season coming to an end in the North and Aadi Perukku getting over in South, egg prices are set for a spike on hopes of a rebound in consumption.
Egg prices ruled flat at Rs 2.80 a piece this week but the National Egg Coordination Committee, Namakkal zone, has decided to hike the floor price at its upcoming stakeholders' meet on Saturday. Egg prices have already been hiked in Delhi, Barwala and Kolkata – major consuming markets in the North.
Moreover, soaring feed costs, too, are prompting the industry to effect a price rise. Prices of soyameal, a key ingredient in poultry feed, has more than doubled this year to Rs 42,000-42,500 a tonne from last year. Maize prices, too, are up by 1.8 per cent at Rs 1,490 a quintal. Oil and oil meal prices, too, are way high, making feed an expensive commodity for poultry industry.
Meanwhile, to offset losses incurred by farmers, the NECC fixed minimum guarantee price at Rs 2.72 - which means prices will not go down below this level at any time. On the other hand, broiler prices have been cut by Rs 9/kg to Rs 46 owing to consumer resistance and lower demand. Prices of layer birds have been retained at Rs 35.