Eggs turn cheaper on Oman ban on imports from India.

 KOLKATA: With Oman reducing egg imports from India, egg prices have plummeted by 30% in the wholesale market. But fish and meat prices have appreciated between 20% and 40% over the last two weeks.

The combined consumer price inflation in egg, fish and meat was at 10.06% in March. Though rural inflation in the three items was at 9.85%, urban inflation was at 10.58% making life in a metro more difficult. The domestic poultry market is currently estimated at about Rs 49,000 crore and is growing at the rate of 20% annually.

Broiler meat and table eggs account for most of the domestic poultry market as India is the third largest egg producer and fourth largest broiler meat producer in the world. Poultry Federation of India administrator AK Sharma said egg price has come down to Rs 2.20 apiece in the wholesale market though it is sold at the retail end for Rs 4.

"During summer months, we do see a drop in prices. Though warehousing facilities are available, poultry owners find them not affordable and sell eggs at a lower price," he added. Oman's ban on Indian egg imports will further soften egg prices in the country.

The ban was imposed in late March following a bird flu outbreak in the country earlier in the year. This has made it difficult for Indian exporters to clear 1.5-2 million eggs a day that were meant to be shipped to Oman, causing a drop in domestic egg prices.

S Jaikumar, executive director of CLFMA of India, an association of the Indian livestock industry, said the prices of broiler meat have gone up because there has been a steep increase in poultry feed prices.

"The cost of soya bean feed has risen by 23% which has increased the cost of rearing broiler chicken. The high cost of poultry feed is reflected in the end price of broiler meat. Broiler meat has appreciated by 15% -20% in the last two weeks. At this point I cannot say whether prices will go up further in coming months," he said.

In Kolkata, broiler price has appreciated by 20% in the last two weeks. For the fish-loving Indian, high prices will hurt at least till the middle of the next month. Fish production is about 12 million tonne annually.

Source : economictimes.indiatimes.com