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Corporate - September 8, 2022

Egg market getting volatile further

Syndicate active behind scam

Golam Mostafa Jibon: Despite several steps, the egg market has become volatile again due to a powerful syndicate controlled by the owners of some poultry feed producing companies in the country, insiders said.
After the increase in the price of fuel, the price of eggs started to increase on the plea of short supply and price hike of poultry feed. Due to various initiatives of the government, the price came to down at a little bit. However, the price of eggs in the retail market is on the rise again.
During a spot visit to different markets in the capital, this correspondent found that, the price of a dozen eggs increased by Tk 10 to Tk 15 in less than two days. At present, every dozen eggs are being sold at Tk 130 in the capital. Two days ago, it was Tk 120. The sellers alleged that, the price of eggs at the production stage has been increased due to the increase in the price of poultry feed, which is affecting the retail market. However, farmers claim that, prices are being increased by syndicate.
Ramzan Ali, a buyer of Rampura said, “I bought eggs at a bargain price of Tk 40 a day before of yesterday. Now I came and saw that it is being sold at a bargain price of Tk 50. In the retail market of the capital, two days ago, every dozen eggs were sold for Tk 120. Now it has reached at Tk 130.”
At the same time, the price of eggs has also increased in different districts of the country including Barisal, Khulna, Sirajganj, Bogura, Rangpur, Rajshahi, Sylhet and Mymensingh district. The sellers complained that, due to the increase in the price of feed, the farmers are selling eggs at higher prices by showing various excuses. In this regard, a seller said that farmers have increased the price of eggs again. They said that, feed prices have increased. The price hasn’t dropped yet. So, the traders are realizing extra prices. But the producers blamed the syndicate. They said, middlemen have essentially destabilized the egg market. They are buying from us at a low price and selling at a high price. A month ago, the price of eggs exceeded Tk 50.In less than a few days, the prices of egg have started go up again.
Consumers urged the authorities concerned to beef up market monitoring activities for the sake of low- and middle-class people.

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