Chicken, egg prices decline amid fall in demand
Maharashtra and Chhattisgarh have witnessed the sharpest fall in prices
Chicken prices in India have started seeing a fall as the farm gate rates have crashed in the range of 25-50 per cent.
Maharashtra and Chhattisgarh have witnessed the sharpest fall in prices.
Egg prices have also taken a hit of 30-35 per cent across various cities, according to a media report.
Vasantkumar Shetty, convener of The Poultry Breeders' Association of India, said, "Farm gate chicken prices have come crashing down during the last fortnight from Rs 115 per kg to Rs 60 per kg, which is below the cost of production.
The fall in prices is sharp and more than expected in Maharashtra and Chhattisgarh, where the month of Sharvan is yet to begin", according to the source report.
It also quoted poultry integrators saying that the demand from north India, where the month of Shravan began July 15, has reduced significantly, and that the overall consumer demand declined due to the high prices in June.
Meanwhile, a report said Indian wheat prices have jumped to a record high, despite a ban on exports. It is due to strong demand and lower supply from a crop damaged by the heatwave.
The government in May banned the export of wheat with immediate effect in order to control food prices in the domestic market.
The daily average retail price of wheat was prevailing at Rs 2,949 per quintal.
The consumer affairs, food & public distribution ministry said the decision to restrict wheat exports will control food prices, strengthen the food security of India and countries facing a deficit, and that India remains a reliable supplier as it is honouring all contracts.