Commodities

Egg price scales new high

| | Updated on: Aug 29, 2012
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The price of an egg scaled a new high of Rs 3.40 on Wednesday. It is set to rise further in the coming days, driven by escalating feed prices. The farmgate price of egg had touched a high of Rs 3.33 on June 28.

To offset losses

The National Egg Coordination Committee (NECC), Namakkal zone, effected a hike of 15 paise on Wednesday. Its Chairman P. Selvaraj said that this time the hike is not due to rising demand (that is the sole driving force for the increase most of the times), but zooming feed prices.

“We were forced to effect this price rise to make up for the heavy loss incurred by layer farmers in the last few weeks,” he told Business Line .

Buyers resistance

On consumer resistance, he said that there won’t be much resistance from buyers and the traders as floor rates will not exceed the Rs 4-mark.

Another reason for acceptance of egg despite its price hike is the increasing cost of vegetables and other meat products, he said.

Meanwhile, layer and broiler prices are also up by Re 1 each from their last week levels.

NECC’s layer birds are ruling at Rs 37 while the Broiler Coordination Committee has hiked the prices to Rs 69/kg.

Broiler prices touched a record Rs 75 in April 2011.

gayathri.gururajan@thehindu.co.in

Published on August 29, 2012

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