Egg and chicken prices could rise by 30 per cent by December
Surging costs for poultry feed ingredients like maize and broken rice are expected to drive up poultry product prices.
Egg and chicken prices may increase by 25-30 per cent by December, according to a report by the Times of India. This projected rise comes as the cost of poultry feed ingredients, such as maize and broken rice, has grown by 30-45 per cent over the last month compared to the same period last year.
Wholesale egg prices, which are currently between Rs 6-7 per egg, are expected to reach Rs 7-8 by December. Similarly, the wholesale rate for skinless dressed chicken is projected to rise from the current Rs 225-250 per kg to Rs 260-275 per kg.
Maize prices have risen from approximately Rs 18 per kg last year to Rs 34 per kg currently. Industry participants fear maize could reach Rs 40 per kg by December as intermediaries stockpile the grain. Broken rice prices have also increased from Rs 14-15 per kg last November to Rs 31-32 per kg.
Industry estimates suggest a deficient monsoon in Maharashtra and Karnataka could lead to a 15-16 per cent decline in India's kharif maize output. Maize prices are also rising due to the diversion of grain towards ethanol production, while rice prices are climbing because of expected lower kharif paddy output.
KG Anand, general manager of Venkateshwara Hatcheries, told the financial daily that while production costs have risen, the entire increase cannot be passed to consumers. He also noted that production might fall by more than 20 per cent during December and January as farmers may sell younger birds to reduce feeding costs.