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Wholesale egg prices decline due to Demonetisation
AURANGABAD: The cash cleanup drive has hit the city's wholesale egg market as prices stood at Rs 380 for a batch of 100 on Sunday. This is around Rs 70 less than what local dealers had anticipated.
Winter generally brings with it a heavy demand for eggs as the protein-laden food promotes body heat during the cold. Egg prices subsequently shoot up as consumption increases manifold and sales go up 100%. The trend, however, appears to have changed this year as the demand for eggs has slipped and prices have follow suit.
"December to January is peak season for egg sales. We sell over 15,000 eggs each day and prices are high. But, since markets are facing shortage of currency notes post demonetisation, our trade has encountered a rough patch. We could not sell even 8,000 eggs in one day and prices are falling with every passing day.
The wholesale price of eggs between December and January should not have been less than Rs 450 per 100, while in the retail market it should have been sold at around Rs 5 per egg. Most shopkeepers and retailers are not buying eggs to their capacity. Citing poor demand for the heathy food supplement, they are buying half of their normal demand.
The retail price of eggs is somewhere at Rs 4.25 to Rs 4.5 per egg at many localities.Basically, customers aren't willing to spend money and are buying only essential items.
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