Fact Check: Has Egg become costlier then broiler chicken
Viral Message: egg prices in India recorded a sharp increase of as much as 40 per cent while the prices of broiler chicken eased 25 per cent during the same time on account of added inventory
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egg prices in India recorded a sharp increase of as much as 40 per cent while the prices of broiler chicken eased 25 per cent during the same time on account of added inventory
Viral Message Verification- The price of Egg has been constantly rising and in the last one month, egg prices in India recorded a sharp increase of as much as 40 per cent while the prices of broiler chicken eased 25 per cent during the same time on account of added inventory'.
In Maharashtra, Pune, the wholesale rate of 100 eggs moved up from Rs 385 on October 1 to Rs 530 on November 12, 2017. The retail price of eggs in Pune was over Rs 6 apiece.
In Delhi, the wholesale egg prices went up from Rs 375 to Rs 525 (for 100 pieces) during the same period, data aggregated by online agency Poultry Bazaar said.
While the egg prices have gone up in the last one month, the price of broiler chicken has gone down owing to added supply from the poultry farms. As per Poultry Bazaar, the price of 1 Kg broiler chicken in the wholesale market came down from Rs 120 on October 28 to Rs 90 on November 12, 2017.
The average wholesale rate of 1 Kg broiler chicken in Punjab is Rs 132 around this time of the year.
Each year, egg prices tend to rise during winter due to increase in demand. However, this year prices have moved up drastically. Even Costly vegetables turns up the cost of egg, people switch to eggs, pushing up its rates as well.
Hit by tight supply, egg prices have jumped to Rs 7-7.50 apiece in retail markets in most parts of the country, Poultry Federation of India President Ramesh Katri said to PTI.
Katri said, the upward trend would continue in coming months as egg production is likely to be lower by 25-30 per cent this year.
Retail inflation, which touched a seven-month high in October, is expected to rise further and cross the 4 per cent mark this month, driven by rise in vegetable and oil prices. As per the financial services majors like Nomura, BofAML and Morgan Stanley, price pressures are likely to build further in the coming months following a cyclical recovery in the economy and rise in vegetable and oil prices.
Inflation based on the monthly Wholesale Price Index (WPI) rose to six-month high of 3.59 per cent in October, 2017 as compared to 2.6 per cent for in September. The retail inflation increased up to seven-month high to 3.58 in October due to the high prices of food items.