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Retail Egg Prices Reach All-Time High
INDIA - In Namakkal, the National Egg Coordination Committee (NECC) has raised the retail rate of eggs to an all-time high of 2.01 rupees.The price had been hovering around 1.95 rupees (INR) for the past two months. The new price was set at the weekly price-fixing meeting at Namakkal on 18 August. Retail outlets reacted, instantly increasing the over-the-counter rate accordingly.
According to Newindpress, retail price of broilers also soared to INR120 per kilo with the Broiler Coordination Committee fixing the wholesale price at INR56 per kilo.
However, producers - mainly the smaller ones who market eggs and broilers through the market coordination mechanism - lament that the increase in price will not benefit them in any way as there was no substantial increase in the procurement rates.
But small and medium producers are said to be burdened heavily from huge input costs with almost doubling of poultry feed cost over the past year.
The increase seems extreme as egg prices do not normally rise at this time of year. The report says that the industry is trying to make the most after the losses it suffered from the bird flu scare and also from adverse market condition triggered by unusually hot summer in many parts of the country, say retailers.
NEEC failed to respond to the newspaper's queries and did not issue an explanation of the rationale behind the increase. The routine update on NECC’s weekly price-fixing meeting was not sent on the day of the meeting. Top producers were unavailable for comment.
Meanwhile, the Tamil Nadu Poultry Farmers Association president, R. Nallathambi, attributed the rise in the retail price to an exorbitant increase in poultry feed prices.
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