With the recent bout of rain lashing North India and a cut in production, the price of an egg has increased to a new high of Rs 3.65. It is a hike of 16 paise over last week.
Officials at the National Egg Coordination Committee (NECC), Namakkal Zone, said that consumption of egg has increased in Uttar Pradesh, Bihar, West Bengal and Punjab after the recent monsoon downpour.
“This increase in offtake has prompted us to raise prices,” an official said.
NECC sources said that the average daily egg movement to Kerala was 105 lakh eggs, which dropped by 25 lakh-30 lakh during Onam.
“With the celebration coming to an end, we expect the consumption in Kerala to go up.” The price rise is also attributed to a drop in egg production by 12-15 per cent due to the use of alternate ingredients in the feed instead of the traditional soyameal.
Daily egg production has declined by 41 lakh-51 lakh from the average 341 lakh in July.
The increasing rate has given hope to poultry farmers and the bullish sentiment is likely to continue till the onset of Dasara festival, sources told Business Line.
Meanwhile, NECC hiked prices of layer birds to Rs 49 a kg from last week’s Rs 45 and the Broiler Coordination Committee too has increased the prices of chicken to Rs 64 (Rs 58).