Mumbai: Egg prices in the wholesale markets of Mumbai rose to a record high on Thursday on the back of increased demand from consumers, as winter sets in. Prices have risen 5-6% month-on-month.
In Mumbai, eggs were priced at Rs 519 per 100 eggs, as against a high of Rs 496 a month ago, according to data on the National Egg Co-ordination Committee's (NEEC) website.
In Pune, eggs were sold at Rs 517 per 100, up by Rs 20-25, as against that a month ago.
Figures from the NECC show that the average monthly price for 100 eggs has risen steadily, from Rs 461.97 in November 2019 to a monthly average of Rs 490.35 in December 2019.
“In winter, egg prices generally increase due to increase in demand. This year in particular, crops were damaged due to heavy rains, and this, in turn, had a cascading affect on egg prices as well.
For instance, this year, corn prices rose to Rs 22 kg, up from around Rs 14-15 a year ago,” said Vinod Patil, owner of Patil Poultry Farm. Not just egg prices, broiler prices, too, have surged by 15-20% month-on-month in key consuming cities.
In Mumbai, broiler prices were at Rs 81 per kg, as against Rs 67 a month ago. In Pune, prices had settled at Rs 78 per kg, up by Rs 15 since a month ago, traders said.
The rise in poultry prices is likely to continue till February and prices are likely to extend gains by 5-10%, as a continued rise in demand from consumers and the hospitality sector is expected, traders said.
“In February and March too, we expect the demand to increase. In winter, the production of eggs decreases and demand rises. That is the reason behind this hike in prices,” said Dinesh Bondre, owner of Aadishakti Kadaknath Eggs.