Egg prices soften as consumption slows down amidst rising temperatures

Egg prices, which touched a high during Christmas, have started retreating as consumption is seen slowing down amidst rising temperature levels in the Southern parts of the country.

Prices which hovered around ₹635-670 per 100 eggs during last week of December in the key consuming centres such as Chennai, Mumbai, Delhi and Bengaluru have now come down to the level of ₹510-550.

From ₹600 per 100 eggs in early February, prices have come down to ₹520 in Bengaluru. Similarly, in Chennai the prices have come down from ₹610 in early February to ₹550 now. In Mumbai, the prices have come down from a high of ₹610 to ₹545 and in Delhi from ₹543 to ₹510.

Similarly, the prices in the key producing centre of Namakkal, which touched a high of ₹585 per 100 eggs in mid-February have now come down to ₹480 levels.

“Consumption is slowing down as the temperatures have started rising. Also, the consumption is coming down in parts of North India, which is resulting in prices coming down,” said MSR Prasad, a large producer and zonal chairman of National Egg Co-ordination Committee in Hospet.

“We see the prices settling around ₹500 levels going forward,” Prasad who is also the secretary of Karnataka Poultry Farmer Breeders Association (KFPBA)

Also read: Poultry sector bats for duty-free maize imports 

Valsan Parameswaran, Secretary, All India Poultry Exporters Association, said prices are seen coming down on account of dip in consumption during the summer months, which is a seaosnal factor. “The dip in prices could improve the prospects for exports. However, we will have to wait and see,” Parameswaran adds.

Naveen Pisuparthy, President, KPFBA, expects the prices should stabilise around ₹500 levels going forward.

The declining trend in soya de-oiled cake and steady prices of maize have provided some respite to the poultry producers in the recent weeks.

“The bullish trend in prices earlier were mainly due to robust export demand. But since our prices were high, there is a slackness on exports front and prices are coming down,” said C Paneerselvam of Abi EggTraders, an exporter in Namakkal.

Meanwhile, chicken prices are set to increase in the coming days with rising temperatures fuelling the need for protein consumption, says K Singaraj, zonal vice chairman, NECC.

India’s poultry exports, driven by robust shipments of eggs to countries such as Oman, Sri Lanka and Japan among others, crossed the ₹1,000-crore mark in the first nine months of current financial year. Poultry shipments for the fiscal 2024 are seen headed to a record ₹1,200-1,400 crore.