Egg prices soar in Mumbai, ahead of Christmas and New Year

In a swift onset of the winter season, the retail cost of eggs has surged to an unprecedented Rs 90 per dozen in specific localities, causing concern for households, bakers, confectioners, institutional buyers, and hotels.

On Monday, prices experienced a notable increase of Rs 6-10 per dozen, soaring from Sunday's range of Rs 80-84 to the current rate of Rs 90 in Andheri Lokhandwala, Jogeshwari West, and Shivaji Park. Some establishments reported selling eggs at a record high of Rs 94. However, in areas such as Bandra, Malad, and Nerul, prices have maintained a relatively lower rate, standing at Rs 80. This surge in egg prices is expected to pose a financial burden on various sectors, impacting both businesses and consumers alike.

According to a report of TOI, Egg rates had first attained a record Rs 90 in January. At the time, wholesalers had cited soaring input costs coupled with high demand as the driving factors. Tuesday's National Egg Coordination Committee published retail rate was Rs 78 per dozen. Local shops typically charge Rs 6-10 more owing to breakage, transportation and labour costs. Raju Shewale, president of Maharashtra Egg Traders Association, said, On Tuesday, The wholesale price of eggs has surged to Rs 620 for 100 eggs (Rs 6.20 per egg), marking a notable increase from Rs 580 in November, Rs 560 in October, and Rs 480 in August. This escalation in wholesale rates has consequently impacted retail prices, with retailers charging anywhere from Rs 7 to Rs 7.50 per egg (Rs 84-90 per dozen).

Several factors contribute to this seasonal increase. A surge in demand for eggs in North India due to the onset of winter has led to the diversion of eggs from Hyderabad to meet this increased demand. This redirection of supply has resulted in a shortage of eggs in the Mumbai region, according to Shewale. The primary suppliers of eggs to Mumbai, as well as western and northern India, are South Indian regions such as Hyderabad, Karnataka, and Tamil Nadu. This regional shift in demand and supply dynamics is a key factor behind the current spike in egg prices in the market.