Egg Prices are Skyrocketing, Expected to Drop in August
Egg prices rise to Rs 5.65 per piece due to high demand amid vegetable price hikes, expected to drop in August.
by Nagpur Trends Team | Published on 2024-07-11 16:05:52
Nagpur, India- After dropping to Rs 4 each in April, egg prices have bounced back, now selling for Rs 5.65 each in wholesale markets, an increase of Rs 1.65. This increase is due to more people buying eggs as vegetables become more expensive.
Moiz Burhani, from Vidarbha Eggs and President of Mahatma Phule Wholesale Market, explained that prices will likely stay high in July because demand is strong.
In stores, eggs are selling for Rs 7 each, up from Rs 6 to Rs 6.5 before. But wholesalers think prices will go down from August. During the holy month of Shravan, many people traditionally eat less eggs, so demand could drop by 30 to 50 percent nationwide.
Traders predict prices could fall to Rs 5 each soon. Eggs mostly come to Nagpur from poultry farms in Andhra Pradesh and Telangana. Every day, 10 to 12 trucks bring eggs to Mahatma Phule Wholesale Market to meet local demand.