The government has given permission to import 45 million eggs in a bid to ease the overheated market of the widely consumed item.
Meanwhile, the Bangladesh Trade and Tariff Commission (BTTC) has suggested withdrawal of the existing import duty on egg import for a specific time to rein in prices of the commodity in the local market.
On Tuesday last, the commerce ministry allowed seven traders to import the eggs by December 31, 2024.
Among the companies that received the import permission, M/s Mim Enterprises, Dhaka, Tawsin Traders, Jessore and Himalaya, Dhaka will be able to import 10 million eggs each.
Besides, Prime Care Bangladesh, Dhaka and Zaman Traders, Dhaka have received permission to import 5.0 million eggs each and Alif Traders, Rangpur 3.0 million and Sumon Traders, Satkhira 2.0 million by the deadline.
Each of the companies could import by meeting some conditions, including sourcing eggs from countries free of an avian influenza, bird flu virus and harmful bacteria-free certificate issued by the government of the exporting country or authorised authorities.
Thirdly, every consignment of egg import should be notified to the quarantine officer concerned at least 15 days in advance. Fourth, the progress report must be submitted to the commerce ministry after seven days after obtaining the import permit.
At a meeting on September 25 last, the Ministry of Fisheries and Livestock (MoFL) decided not to import eggs.
It has requested the commerce ministry not to allow import of eggs for protecting the interest of the domestic poultry industry.
Besides, if farm egg is imported, the country's developing poultry sector would be massively affected, the MoFL feared in the meeting.
Around 45 million eggs are produced daily in the country. Of them, around 20 per cent is produced by big poultry farms and the rest by small farms in rural areas.
Around 45 million eggs are required daily for meeting the local demand.
Although the government earlier had allowed the import of 250 million eggs, around 0.5 million have been imported thus far, a senior official said.
He added the government's objective is to reduce egg prices and imports will continue until price stabilisation is achieved.
According to the tariff commission, due to the recent floods in different districts, the poultry industry has been affected and the prices of complementary food products (poultry feeds) have increased, which has created some pressure on the supply chain of eggs in the market.
The state agency recommended withdrawal of the existing duty for temporary as the prices of eggs have gone up abnormally recently due to shortage of supply to local markets.
The prices of eggs in the local market have increased by 15 per cent in the last 01 month and by 20.41 percent in 01 year, according to the Trading Corporation of Bangladesh (TCB).
Apart from eggs, the prices of several essential products, including onion and potato, have increased in the market recently.
Following soaring prices of the items, the BTTC wrote to the NBR on August 21 last for a reduction in import duty on onion, potato and egg, the BTTC mentioned.
After requesting by the BTTC, the NBR reduced the import duty on potato and onion except egg on September 04 last. After reducing the duty, the prices of the two products in the local market have come down to a stable level.
Currently, a 33-percent of duty-tax on import of egg has been imposed. The state-run entity believes that if this tariff structure continues, the imported eggs will not have much impact on the prices in the local market.
The tariff commission claimed that local consumers would feel affordable if the existing duty on eggs at the import stage is withdrawn for a short period of time.
The agency said that eggs cannot be imported without permission from the government. Traders concerned have to take special permission to import such the item.
The BTTC thinks, however, it is unlikely to have a negative impact on the poultry industry if the import duty on eggs is given for a specific period.
On the other hand, there is no risk of loss of the government revenue as a result of duty-tax exemption in the short term.
Egg now retails at Tk 15 apiece. A dozen of eggs ranged from Tk175 to Tk 190.
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