Dropping Rupee Boosts Egg Export02 September 2013
INDIA - Depreciating rupee value against the US dollar has brought cheers to poultry farmers and egg exporters in the country as they are realising better price for the white protein.
According to The Hindu, industry sources said that buyers too are benefited as they are able buy eggs at a lesser price, since Indian exporters are quoting lesser than their competitors in other countries.
Monthly egg export slumped to its record low in 15 years in June 2013, when a mere nine containers were exported. It recovered to 30 containers in July after the Sultanate of Oman started importing eggs from India after a gap of eight months.
"This month export has increased steadily as we are able to quote a better price in dollar compared to our competitors. Despite a lesser price we are able to reap good profits as the average value of rupees is 64 this month compared to Rs. 60 in July," said R. Kannan, General Manager of a firm that accounts for more than 50 per cent of the egg exports.ThePoultrySite News Desk