'Corporates pocket Tk 160cr in 20 days exploiting egg, market'
Low-income consumers depend on eggs and chickens for affordable protein, but unscrupulous corporate traders have reportedly raked in Tk 280 crore over the past 20 days by artificially inflating prices, according to the Bangladesh Poultry Association (BPA).
In a statement signed by BPA President Md Suman Howladar, the association accused corporate groups and traders in Tejgaon of dominating the egg and chicken markets and manipulating prices to their advantage.
These groups, according to BPA, have repeatedly exploited the market, yet face no consequences, worsening the situation for consumers.
The statement highlights that the prices of eggs and chickens are currently being set by the Directorate of Animal Husbandry and Agricultural Marketing based solely on recommendations from corporate groups, rather than involving broader input from the "Working Group" Committee.
This has led to significant instability in the market, with syndicates controlling prices of feed, broilers, and eggs.
The BPA claims that powerful syndicates, including feed and broiler companies, along with the Tejgaon Egg Traders Association, are exploiting the market by fixing prices. The problem has worsened as these syndicates remain unchallenged, with corporate groups benefiting from the ongoing price hikes.
On September 15, the government set new prices, stating that producers should sell eggs at Tk 10.58 each, with consumers paying Tk 12.
However, none of the major producers adhered to this pricing. At the corporate level, they reportedly sold eggs for Tk 11.80 to Tk 12.50 each, leading to retail prices of Tk 14 to Tk 15 per egg.
This results in consumers paying Tk 2 extra per egg, costing them an additional Tk 8 crore per day across the 4 crore eggs sold daily. In just 20 days, this has amounted to Tk 160 crore in excess profits.
The BPA also reported that the price of broiler chicks, previously Tk 30 to Tk 35 until September 15, surged to Tk 40 to Tk 56 from September 16, with layer chicks now being sold for Tk 70 to Tk 80.
With 3 million chicks produced daily, this price hike is generating an extra Tk 6 crore per day, leading to an additional Tk 120 crore in profits over the last 20 days.
The feed corporate association, which produces 100% of the country's chickens, is alleged to be controlling the market to maintain instability. Although corporate companies produce only 20% of the market's eggs and chickens, they effectively control prices, leaving entrepreneurial marginal farmers—who supply 80% of the market—helpless.
The BPA warns that if these corporate syndicates are not brought under control, the future of the country’s marginal poultry industry could be in jeopardy.
