Trade Minister welcomes producers’ decision to reduce egg prices

• As of yesterday, the selling price of a white egg was Rs 45 and a brown egg was Rs 48 in Pettah

By Yohan Perera   

Minister of Trade Nalin Fernando who welcomed the decision  made by egg producers to reduce the price of an egg to Rs 42 yesterday  hinted that he would abandon his original plan to import eggs.   

“I was planning to import eggs if the producers failed to  reduce the price. The decision made by the producers is welcomed. They  should have done it before. Why wait till I threatened to import eggs,”  he said.  

Referring to the request made by the Sri Lanka Association  of Animal Production Ajith Gunasekera to remove the 18 per cent value-added tax (VAT) on eggs, the Minster said such a tax is not imposed at  the moment. “Why are the animal production association shouting on a tax  which is not imposed?” he questioned.   

The President of All Ceylon Egg Producer’s Association Sarath  Ratnayake said his association has decided to release an egg at Rs 42 to  the market. “Consumers will be able to purchase an egg at Rs 45 at the  moment,” he said. He reiterated that the price of a chick is still Rs  800. The total cost to convert 1,000 chicks into fully grown laying  birds is around Rs 300,000,” he added.   

Minister Fernando earlier said the failure of the traders and  producers of essential items could result in introducing controlled  prices. “We don’t like to adopt a policy of controlled prices but we  will be compelled to do it. I have called all trade associations for a  meeting next week and I will be passing this message to them loud and  clear,” the minister told a press briefing.   

However, the announcement of the egg price reduction came just two days after the warning given by the minister.   
The selling price of a white egg was Rs 45 while a brown  egg was sold at Rs 48 in Pettah yesterday as per the prices put out by  Hector Kobbekaduwa Agrarian and Research Institute.