Corporate egg suppliers accused of market crisis

Staff Reporter :

Md Hafizur Rahman, administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), stated on Sunday that corporate egg suppliers are allegedly creating an artificial market crisis, causing hardship for consumers.

“We have issued directives to maintain a stable supply and are monitoring the markets closely. Strict action will be taken if these instructions are not followed,” he said during a discussion with traders after inspecting the egg and chicken wholesale market in the capital’s Kaptan Bazar.

The FBCCI administrator highlighted the organization’s expectation that traders will act responsibly to stabilize the market. He also requested information on those suspected of manipulating supply, indicating that the FBCCI will forward such details to the government for action.

According to traders at Kaptan Bazar, corporate suppliers are currently providing 7-8 lakh eggs daily, almost half of the area’s demand of 15 lakh eggs, leading to a considerable supply gap. Nazrul Islam, former president of the Egg Traders’ Multipurpose Cooperative Society, stated, “If eggs are supplied at the government-fixed price and meet demand, the market will stabilize.”

Khandkar Ruhul Amin, former director of FBCCI, urged corporate suppliers to uphold a steady supply and emphasized the need for legal measures against dishonest businesses. During the FBCCI’s market inspection, wholesale prices for eggs were noted at Tk11.01 per piece, yet retail markets in the capital sold them at Tk155-165 per dozen, reflecting a significant markup. Additionally, broiler chickens were priced at Tk180-185 per kg in Kaptan Bazar but were reportedly sold at Tk200 per kg in other areas of Dhaka.

The FBCCI’s Market Monitoring Cell, led by Administrator Hafizur Rahman, collected updated data on egg prices and supply conditions from traders to assess the market situation.