Egg prices hit the roof

Egg prices hit the roof

Egg prices hit the roof

Also, drought in parts of Karnataka and Tamil Nadu led to prices of maize rising which is the main input for poultry production.

For every 100 eggs the price from poultry farms in Pune costs Rs 585, a report by OneIndia said on Monday.

Egg prices that have shot up to around Rs 6-6.50 per piece at the retail end in Telangana in the last few days will continue to bother consumers till January next year, till the demand situation eases, said industry players. Buying chicken seems a worthwhile option as the price levels of a dressed chicken in Pune costs around Rs 130-150 per kg levels. Now being sold at 7 to 7.5 rupees a piece, eggs were available in the market for 5 rupees/piece till about a fortnight back.

As for the customers, the egg price hike is making them buy fewer eggs as it is affecting their budget.

Citing seasonal trend, experts have said that prices of eggs usually rise during winter season.

Bhosale added that this increase in prices was also due to costlier vegetables. Reports have come in that if we consider the average weight of eggs, then per kilo rate would work out to nearly that of the price of a chicken. Due to this the egg prices raises much.

The onion prices have surged to '50-60 a kg while tomato is priced between '80 and '90 a kg in the retail market. Interestingly, the prices of chicken have fallen about 30 percent during the period, the report says quoting prices from Poultry Bazaar. "This is simple substitution effect", claimed Bhosale.

Retailers believe that the prices are likely to be high till February or March.

"We expect CPI inflation to rise above 4% in November and stay above the RBI's target of 4% through 2018", Nomura said in a research note. With the increase in the rates of eggs, the rates of omelette has also increased in restaurants.

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