Eggs to be imported from India, what will the prices be?
Six firms that secure the commerce ministry’s permission to import 40 million eggs will mainly bring eggs from India. However, those firms are trying to import eggs from Indonesia and Azerbaijan.
The importing firms said they could sell imported eggs at a price lower than Tk 10 a piece in the local markets, but it may take a week for the eggs to arrive from India.
Tiger Trading secured the permit to import 10 million eggs. Its owner Saifur Rahman told Prothom Alo they do not think that it would be profitable importing eggs from countries other than India.
After the soaring price hike of eggs, the government allowed four firms to import 10 million eggs each. The companies are: Mim Enterprise, Prime Energy Importers and Suppliers, Tiger Trading and Ornob Trading Limited.
The government also fixed the retail price of eggs at Tk 12 a piece.
Commerce secretary Tapan Kanti Ghosh told Prothom Alo on Monday no specific date for importing eggs has been fixed for any of these four firms, but the firms have been instructed to bring eggs as soon as possible. Since import will require opening of LCs (letters of credit, it may take some time, he added.
Currently, eggs of farm grown chicken are being sold at Tk 12.5 to Tk 13 apiece in local markets. Prices of eggs have been on the rise over the past two year, price even reaching to Tk 15 an egg. According to state-owned Trading Corporation of Bangladesh (TCB), prices of eggs was Tk 7 to Tk 7.5 apiece in January 2021.
Replying to query on the possible prices of eggs, to be imported from India, Saifur Rahman said price of two pairs of eggs is Rs 18-22 in India’s West Bengal, Haryana, Hyderabad and Andhra Pradesh. Transportation and other costs will be added to it “We hope we would be able to sell two pairs of eggs for Tk 36-40.”
If it becomes possible to open of LCs and complete other processes soon, it will be possible to import eggs from India, he added.
Prime Energy Importers and Suppliers also secures permit to import 10 million of eggs. Its owner Md Nizam Uddin, who is director of apex trade body Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said import of eggs should have tax rebate.
Price of eggs is slightly lower in Azerbaijan than India, but business ties between Bangladesh and Azerbaijan is not that smooth. It would take 15 days to import eggs from Indonesia and a month from Azerbaijan, and the matter depends on how fast the Office of Chief Controller of Imports and Exports complete the process, he added
Meanwhile, price of eggs dropped following the government’s decision to permit import of eggs. Prices of eggs fall by Tk 15-20 per 100 pieces.
According to TCB, price of two pairs of eggs was Tk 50-52 on Sunday and Tk 48-50 on Monday.