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TL;DR:
- Egg prices in Dhaka drop to Tk150 per dozen as the government reduces import duties from 25% to 5% until December 15th.
- Corporate entities pledge to supply 2 million eggs daily to Dhaka’s main wholesale markets to increase supply and control prices.
- Despite a higher production than demand, egg prices have been rising due to increased production costs.
- The government’s decision and collaborative efforts are expected to provide relief to consumers grappling with high egg prices.
Dhaka, Bangladesh – In a bid to make eggs more affordable for consumers, the government of Bangladesh has slashed import duties on eggs from 25% to 5%. The reduced tariff will remain in effect until 15 December, according to an order issued by the National Board of Revenue (NBR) on 17 October.
The impact of this decision is already being felt in the capital city of Dhaka, where egg prices have dropped by Tk25-30 per dozen. At Karwan Bazar, one of the city’s largest markets, a dozen eggs are now selling for Tk150, down from Tk180 last week. Local kitchen markets have also seen a reduction in prices, with eggs now being sold at Tk155-160 per dozen.
Mohammad Jobayer, a resident of Dhaka’s Kallyanpur area, expressed his satisfaction with the price drop, stating, “I bought a dozen farm eggs for Tk150. I bought them at the beginning of last week for Tk180.” However, he emphasized the need for strict monitoring to ensure that sales are occurring at the government-set prices.
Saiful Islam, an egg trader at Karwan Bazar, attributed the decrease in prices to an increased supply of eggs in the market. In addition to the import duty reduction, corporate entities have pledged to supply two million eggs daily to Dhaka’s two main wholesale markets, Tejgaon and Kaptan Bazar, in an effort to further increase supply and control prices.
The Bangladesh Poultry Industries Central Council is coordinating this initiative, which began yesterday in Kaptan Bazar. Although the activity will initially focus on Dhaka, the organization expects it to have a nationwide impact.
According to estimates from the Bangladesh Poultry Association, the daily demand for eggs in the country is around four crore pieces, while production stands at approximately 4.5 crore pieces. Despite this, egg prices have been on an upward trend in recent weeks due to increased production costs.
The government’s decision to reduce import duties and the collaborative efforts of corporate entities to increase supply are expected to provide much-needed relief to consumers who have been grappling with rising egg prices. As the situation continues to develop, it remains to be seen how effectively these measures will stabilize egg prices in the long term.
Source: TBS News
