Commodities

Cold wave heats up egg prices to record high

Gayathri G Chennai | Updated on March 12, 2018 Published on December 22, 2011

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Egg prices increased to a record Rs 3.13 a piece on Thursday as the severe cold wave gripping North India has pushed up consumption. The previous record price was Rs 3.02 registered in January.

After keeping price flat for almost a fortnight, the National Egg Coordination Committee (NECC), Namakkal zone hiked the price of egg by 19 paise on Thursday from last week's Rs 2.94.

Mr P. Selvaraj, Zonal Chairman of the NECC - Tamil Nadu, told Business Line that the cold wave in North India is the main reason for the price hike as the seasonal market attracted an average 25 lakh eggs a day of Namakkal's average daily production of 2.75 crore eggs. Consumption of eggs usually goes up in the winter.

Prices in the South are still the lowest in the country with rates in Bangalore ruling at Rs 3.00, while they are quoted at Rs 3.01 at Mysore and Hyderabad and Rs 3.20 in Chennai compared with production hubs in the North such as Mumbai (Rs 3.28), Kolkata (Rs 3.58) and Delhi (Rs 3.48).

Consistent demand

A spokesperson of Coimbatore-based Suguna Poultry Farms ltd said that there is consistent demand for eggs as more people are opting to go in for poultry products instead of pricey vegetables. Rain has resulted in a vegetable shortage and eggs are gaining since it is seen as the only balanced diet at a lower price.

Industry sources – going by the Met Department's prediction that the cold wave could extend for few more days – said possibilities of a drop in price are remote.

NECC's prices for layer birds has also been raised by Rs 2 at Rs 43, while the Broiler Coordination Committee has retained the rates of cull birds at Rs 50/kg.

>gayathri.gururaj[email protected]

Published on December 22, 2011
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