Egg prices drop in India
After experiencing record highs in recent weeks, the price of eggs in India have dropped suddenly by around 15 percent, owing to surplus stock becoming available in the past week.
A month ago, when prices were at their highest, they reached 1.75 rupees per unit in the Namakkal region, which accounts for 80% of egg exports from the country.
The high prices were attributed to non-replacement of old layer birds and huge rise in input costs.
The Namakkal region produces on an average 2,100,000 units of eggs per day, which declined to 1,500,000 units after the bird flu outbreak. Birds that were culled because of bird flu were nor replaced in equal numbers.
After the declaration of India as ‘bird flu free region’ in August, egg prices surged to alarming levels. In response to the surging demand, farmers began placing extra chicks on their farms, all of which matured to egg-laying age and began laying at the same time, resulting in the current oversupply.
Prices may also be affected by the commencement of the Sabarimalai festive season, popular in all four southern states, where devotees favour vegetarian food for 45 days.
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