Egg prices soar in Ctg despite increased supply

Egg price has gone up in the retail markets of Chattogram despite increased supply and improving flood conditions.

Wholesale egg prices have dropped by at least Tk3 per piece. However, there is no sign of a drop in the retail market. 

According to the Directorate of Agriculture Marketing, eggs are being sold at Tk140 per dozen in wholesale markets of the port city. These eggs are being sold at retail for more than Tk160.

The daily demand for eggs in Chattogram is about two million pieces. Due to the flood, the Dhaka-Chattogram highway was closed for traffic for two weeks, reducing the supply to 500,000 pieces. Now, about 1.8 million eggs are arriving in Chattogram every day, according to industry insiders.

Egg wholesalers said poultry and dairy farms have been damaged in at least 11 districts due to the flood. Two weeks ago, the wholesale price of eggs was high. Now, it is back to normal. However, some traders have not reduced the prices at the retail level. Instead, they are increasing prices, citing low supply.

Mohammad Siraj Uddin Hossain, deputy director of Agriculture Marketing Department in Chattogram, said many farms have been affected by the floods. 

“Egg price rose last week due to reduced supply in the market. Last Thursday, eggs were sold at Tk140 per dozen wholesale and at Tk150 per dozen at retail level,” he added. 

In different markets of Chattogram today, eggs were being sold at Tk160 to Tk165 per dozen in the retail market. Various colony shops in the city were seen selling eggs at up to Tk170.

Retail traders said the eggs in their collection were bought two or three days ago when wholesale prices were high. Freshly purchased eggs will be retailed accordingly.

Wholesale traders in Chattogram said they collect eggs from Dhaka, Kishoreganj, Tangail, Pabna, and Rajshahi. Most of the eggs are brought from Tangail.

Abdul Sukkur, general secretary of the Chattogram Egg Traders Association, said there is no justification for selling eggs at more than Tk160. 

“The supply of eggs is almost normal now. Some unscrupulous traders are increasing the price of eggs on the pretext of supply shortage. We demand the administration to monitor the market and fix the retail price of eggs in line with the wholesale price,” he added.

He also said eggs are being sold at Tk11.60 to Tk11.70 per piece in wholesale markets in Pahartali area. 

Wholesale price of eggs is coming down so the price of eggs may decrease further in the retail markets of Chattogram tomorrow, he added.

Meanwhile, the middle class and the lower class are in trouble due to the abnormal increase in the price of eggs. Earlier, they used to buy a dozen eggs at once, but now they are buying one or two eggs at a time. Many have stopped buying eggs altogether.

Aklima Akhter, a garment worker from the Oxygen Square area, said, “If there was nothing in the house, I used to rely on potatoes and eggs. Now, the price of eggs is increasing every day. This situation has put us in extreme difficulty.”

According to the Consumer Association of Bangladesh (CAB), market monitoring has collapsed due to recent political changes in the country. 

CAB Vice President SM Najer Hossain said, “Retailers are selling eggs at higher prices under the pretext of buying them at higher prices. No government agency is active now to regulate them. Unscrupulous traders are taking advantage of this.

“We need to move away from the idea that operations must be conducted with representatives of the police and other organisations. Officials of the district administration and the Directorate of National Consumers’ Right Protection can themselves go for market monitoring.”