Prices in the egg market continued to hover high despite drives by the government agencies.
Firm egg is being sold at Tk 13.75 to 15 per piece in retail market in Dhaka for the past two weeks. Consumers expressed their anxiety as they have reduced their purchasing power.
Meanwhile, Directorate of National Consumer Rights Protection (DNCRP) conducted drives on wholesale markets and met with stakeholders and markets insiders.
According to the Trading Corporation of Bangladesh (TCB), the cost of eggs rose by an additional Tk 0.75 per piece just this past Monday. On Tuesday, the egg prices stood at Tk 13.25-13.75 per piece, reflecting an increase from the previous range of Tk 12.50-13 per piece.
TCB data showed that egg price shot up by 12.5 per cent within a month.
Nur Alam, a retailer of segunbagicha egg market said, “The surge in prices resulted in a decline of over 20 per cent in retail egg sales during the past week.
We've been informed that numerous consumers are refraining from purchasing eggs due to concerns about syndicates within the egg market. Additionally, a considerable portion of the population is unable to afford eggs. Consequently, our egg sales have also experienced a decline.
Despite this, the price has not shown any signs of reduction. As for when we might anticipate a decrease, it remains uncertain."
To monitor egg prices, three teams from the National Consumer Rights Protection Directorate are conducting raids across various markets within the Dhaka metropolitan area from August 12. Focus of the drives is to verify the wholesale selling price and purchasing price of large eggs in Dhaka city.
The government will allow the import of eggs after consultation with the Fisheries and Livestock Ministry if the price of eggs does not come down, said Commerce Minister Tipu Munshi on Sunday.
“If the Ministry of Fisheries and Livestock fixes the price for eggs it can be controlled through drives conducted by the Directorate of National Consumer Rights Protection,” he said while talking to reporters after attending a programme at Mohammadpur Town Hall in the city.
The Directorate of National Consumer Rights Protection held a joint meeting with egg producers (firms and corporate entities), agents, dealers and representatives from the Bangladesh Egg Producers Association to discuss the recent volatility in egg prices.
Mentionable, egg prices tend to rise in August. Last year, the price of eggs started to increase from the beginning of August but it came down again in mid-August.
