Govt mulls support for poultry feed production
Analysis has revealed that if the price of poultry feed is reduced, the price of these products will also come down.
The Ministry of Commerce is considering providing policy support to poultry feed production to maintain chicken and egg prices at an affordable range.
The Bangladesh Trade and Tariff Commission (BTTC) has been tasked with scrutinising the factors behind the poultry feed price surge and suggesting potential policy interventions through a tariff structure review.
Further steps will be taken based on the findings presented by BTTC's evaluation, according to sources.
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The decision was taken during a meeting of the national committee on commodity price review on Wednesday. BTTC is expected to submit the report within the next 10 working days, sources have said.
As per sources, the issue of chicken and egg prices was discussed during the meeting. Analysis has revealed that if the price of poultry feed is reduced, the price of these products will also come down. BTTC has been entrusted with exploring strategies to achieve this goal.
Egg prices have experienced a sudden surge in the country, with a dozen eggs reaching up to Tk170 to Tk180 in recent days. Currently, the price has slightly decreased, ranging from Tk165 to Tk170 per dozen.
The Trading Corporation of Bangladesh reports a 12.50% egg price increase within one month. Likewise, broiler chicken prices have also risen by the same percentage over the course of a month.
In an official announcement, the Ministry of Animal Resources said that the production cost per egg in poultry farms should be maintained at Tk10.50, while the retail market price should not surpass Tk12. To foster market stability, the Ministry of Commerce proposed the possibility of importing eggs if required. Following this announcement, there was a modest decline in prices.
A senior official of the commerce ministry who was present at the meeting said in addition to chicken and eggs, the discussion covered prices of other commodities, such as potatoes, onions, garlic and salt. Despite an uptick in production for these items, their market prices have surged.
During the meeting, a proposal was put forth to validate the accuracy of the production data provided by the ministries. Furthermore, if the production data is accurate, an assessment was requested to identify the factors contributing to market price escalations, the official said.
Additionally, the meeting addressed delays in securing timely assistance from the relevant ministries for import initiatives, he added.
