Egg prices cool off by Tk 10 a dozen

After a week of market turbulence, egg prices eased by Tk 10 per dozen on Tuesday, providing relief to consumers.
Brown farm eggs, which had been selling for Tk 175-180 a dozen just a day earlier, are now at Tk 165-170 a dozen at retail.
However, while the reduction offers some respite, the current prices still remain significantly higher than the maximum retail price of Tk 144 a dozen or Tk 12 per egg set by the Ministry of Fisheries and Livestock (MoFL).
The MoFL had estimated a production cost of Tk 10.5 and recommended the maximum retail price of Tk 12 per egg on August 13, according to officials.
A discussion was convened by the Directorate of National Consumers Right Protection (DNCRP) on August 14, involving prominent poultry corporations, small farmers, city wholesalers and relevant government agencies.
It was decided that all businesses must maintain cash receipts for egg transactions.
Besides, the DNCRP announced that it will launch raids from Wednesday, taking into consideration the proposed MRP of Tk 12 per egg as suggested by the MoFL.
The commerce minister said the authorities were also considering egg import, highlighting that the move might be required if the market volatility persists.
A meeting scheduled at the commerce ministry today (Wednesday) could address the egg market situation, including the possibility of imports, an additional secretary of the commerce ministry told the FE
The month had witnessed egg prices soaring to a record high of Tk 180 a dozen or Tk 15 per egg on August 9, prompting concerns about the protein intake of low-income people amid the pinching inflation.
The record-breaking price persisted until August 14, after which a slight decline began, said grocers.
According to the Breeders Association of Bangladesh and Egg Producers Association of Bangladesh, the country produces 40 million eggs daily.

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