Commerce Minister Khandakar Abdul Muktadir on Sunday urged egg traders to sell eggs at reasonable prices, avoiding unjustified price hikes, excessive profits and artificial shortages to keep the market stable.
He also called on all stakeholders to play a responsible role in protecting consumer interests while ensuring reasonable profits at every stage of the supply chain, from producers to retailers.
The minister made the call at an exchange meeting with egg and poultry sector traders and other stakeholders on reviewing egg production and supply at the conference room of the Commerce Ministry at the Secretariat.
Muktadir said eggs are one of the most important daily food items for ordinary people and any abnormal rise in prices directly puts pressure on low- and middle-income consumers.
“So, no situation should be allowed to develop where ordinary consumers have to pay unreasonably high prices,” he said.
The minister said it is normal for businesses to operate and make reasonable profits, but there is no scope for making excessive profits in the name of business, creating artificial shortages or disrupting the market by creating unreasonable barriers in the supply chain.
He also stressed the need for long-term planning to keep egg prices stable throughout the year.
At the meeting, traders said the production cost of an egg has reached nearly Tk 11 due to recent increases in the prices of poultry feed ingredients, including corn and soybean.
According to them, the average selling price of an egg at the producer level was Tk 7.91 in January this year, which rose to around Tk 11.30 in September.
The traders said eggs are sold below production costs for a significant part of the year, but price increases receive greater attention.
They said prices generally increase by Tk 1.50 to Tk 2 at different stages between producers and the retail market.
To reduce seasonal fluctuations in prices, the traders proposed developing an effective system to store eggs for one to one-and-a-half months during periods of surplus production.
Responding to their views, the commerce minister said the government would seriously consider the sector's legitimate problems and recommendations.
Commerce Ministry Secretary Md Ataur Rahman Khan, Additional Secretary (IIT) Dr Ahmed Ullah, Kazi Farms Ltd Director Kazi Zeeshan Hasan, Breeders Association President Mahbubur Rahman, Feed Industries Association's Mashiur Rahman, Animal Health Companies Association of Bangladesh Executive Committee Member Aftab Alam, Consumers Association of Bangladesh (CAB) Organising Secretary Abul Kalam Azad, BPIICC and Feed Industries Association of Bangladesh's Md Nazrul Islam, and Bangladesh Poultry Industries Association's Safir Rahman attended the meeting.