The Poultry Association of Nigeria (PAN) has blamed the hike in the price of eggs on cash scarcity and the rising cost of raw materials.
BRANDPOWER reports that the cost of a crate of eggs which sold between N1900 and N2000, now sells between N2400 and N2600.
The National Secretary of PAN, Mr Godwin Egbegbe, said this in an interview with NAN on Tuesday in Lagos.
“There is an increase in the price of poultry produce because the price of raw materials keep increasing everyday.
“From the farm gate, we sell a crate of eggs to the wholesalers at N2100 as against N1800 to N1900 we used to sell in December 2022.
“Even at the price of N2100 we are just selling to avoid egg glut, we are barely breaking even.
“The price will keep being on the increase because of the cost of feed and other raw materials, coupled with the scarcity of the Naira,” Egbegbe said.
According to him, when price increases, it rarely comes down.
“Most of the people that buy from us do mobile transfers and the cash crunch has led to the continuous hike of poultry produce.
“We hope that when the Naira is in full circulation, the prices will go back to normal but as at now we cannot say.
“The problem of the cash scarcity has affected not only the poultry sector but across the entire agro space,” he said.
On her part, Mrs Chinenye Nwachukwu, a businesswoman and mother, complained about the hike but said customers had no choice but to buy at the current price.
“We buy eggs between N2200 and N2500 depending on the size. They have given us several reasons for the hike in egg prices.
“From cost of feed, the economic crisis and now the Naira crunch. All these have contributed to this rise in price.
“There was a time we used to buy a crate of eggs at N850 and N900 at farm price but we have no choice but to buy with the current cost. We hope things get better,” Nwachukwu said.
Another consumer, Mrs Grace Adesina, said the hike came as a surprise but as consumers the dietary need of the children must be met hence the continuous patronage.
“We are buying eggs now from N2300 to N2600 for a crate of eggs as against N1800 or N2000 we used to buy.
“The farmers have complained about the cost of feed and production as the reason for the hike.
“The price keeps rising every day but there is nothing we can do about it than to buy as they sell.
“We just have to buy because of the dietary needs of our children despite the rising costs,” Adesina said.