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 ET 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 by Reuters 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.
“Most of the farmers have sold their crop. Negligible supplies are coming up for sale even though demand is robust,” according to the report quoting Gopaldas Agarwal, a trader based at Indore in central India. It added that local wheat prices on Wednesday stood at a record Rs 23,547 per tonne, which was about 12 per cent higher as against the recent lows that followed the government’s surprise ban on exports on May 14.
Recently, wheat prices in India rose about 14 per cent in the past one-and-a-half month, due to the high demand from millers. The millers make products like maida, biscuits, flour and suji, and supply issues due to the monsoon season.
The price of mill-delivered wheat in the country’s northern region jumped from a low of Rs 2,260-2,270 a quintal in June to Rs 2,300-2,350 now. Traders have said big companies and traders are holding their stocks and expecting the price to rise, whereas small farmers and traders have already sold out their stocks. For the first time this year, wheat from state-owned Food Corporation of India (FCI) is also not available for the millers.
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.
However, there were some exemptions to the ban. The government allowed wheat shipments with valid irrevocable letters of credit (LoC) issued on or before the date of the ban. The country contracted for the export of 4.5 million tonnes of wheat so far this fiscal. Out of which, 1.46 million tonnes was exported in April.
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