Egg prices plummet as surplus floods market amidst unstable demand

By Leenah Wahab   

According to Hector Kobbekaduwa Agrarian Research and  Training Institute (HARTI), as of 1-7th November prices of both brown  and white eggs have decreased by 8% and their prices ranged from  Rs.36.00-40.00/egg and Rs.34.00-37.00/egg respectively.   

HARTI data suggests that, compared to the same period last year, prices of both brown and white eggs have decreased by 18% and  20% respectively.   

Last year, the selling rate for eggs fluctuated between  Rs.25- 40 as the market is unstable, Ceylon Broiler and Layer Farms  Association Chairman, Shafi Rafeek told Daily Mirror. “The availability  of extra product or chicks is causing the fall in egg prices,” he  continued.   

Meanwhile, Dr. K.M.H.G. Priyantha, Chief Livestock  Economist of the Department of Animal Production and Health stated cost  of production per egg was around Rs.30-35 and that egg prices have been  relatively constant.   

Senior Research Officer at HARTI, Dr. N.P.G. Samantha  further said that while there are variations in market price, there is  no need for a maximum retail price. “The most important thing is to  allow market forces to determine prices instead of controlling it,” he  said.   

He also noted that the cost of production increased in 2022,  during the economic crisis due to feed costs from importing maize, as  well as the ban on fertilizer that affected the production of maize. “There  are many producers in the market, but they are the main suppliers, so we  cannot say that the market is monopolistic. Prices vary due to  variations in demand,” he said.