Egg prices in Bangladesh over double global market prices

EggsFile photo

There is a significant disparity between the current prices of various daily essentials in the global market and their prices in the local market of Bangladesh. Data prepared by the Ministry of Commerce indicate that certain daily necessities are being sold at much higher prices in Bangladesh compared to international markets.

The overall price difference is substantial, with the price of eggs in the local market being more than double that of the international market, even though eggs are not imported to Bangladesh. 

This came to light during a presentation given by the Ministry of Commerce in a meeting regarding the price review of agricultural products held on Wednesday. According to the commerce ministry, prices of onions, ginger, green chilies and eggs have declined in the international market over the past month.

During this period, onion prices decreased by 12 per cent per tonne, ginger prices dropped by 17.80 per cent, green chili prices fell by 33.33 per cent, and egg prices decreased by 4.90 per cent each. Among consumer goods, only garlic prices remained unchanged. 

Besides, the price of imported onion per kg in the country market has increased by 36.84 per cent, the price of imported garlic has increased by 4.76 per cent, and the price of imported ginger has increased by 13.16 per cent. However, the presentation of the commerce ministry showed that the prices of green chili and eggs have declined slightly.  

According to the ministry, on 11 September, the price of onions in the world market was Tk 26.70 per kg (equivalent to Tk 109.50 per dollar). On the same day, the price of garlic stood at Tk 193.59 per kg, ginger at Tk 123.52, and green chillies at Tk 120.18 per kg. However, the price of eggs was listed at Tk 5.61 per piece, estimated in taka, unlike the other products in the presentation, which were quoted in dollars. 

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The presentation also cited the Department of Livestock's records, stating that the country's egg supply for this year amounts to 1.34 billion eggs. The presentation further noted that there is no logical reason for the increase in egg prices in the country, considering the surplus supply. In neighboring India, each brown egg is being sold at Tk 6.50 and each white egg at Tk 5. 

The Ministry of Commerce also notes that the selling price of potatoes per kg was Tk 33.84 in the country's wholesale market on 22 August, and it has risen to Tk 42 as of 11 September.

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According to the Directorate of National Consumers' Right Protection, the price of potatoes in the wholesale market has increased by 20 per cent in the last 15 days, and this increase cannot be attributed to any additional costs. 

During the meeting related to the price review of agricultural products, it was disclosed that potato production in the country this year amounted to 11.2 million tonnes, marking a 2.83 per cent increase compared to the previous year. However, it was also mentioned that the quantity of potato stocks has decreased.