India's egg prices down again on Sabarimala pilgrimage

India's farmgate egg prices were cut for the second time within a week due to lower consumption and the setting in of the Sabarimala pilgrimage. 

On last Sunday (Nov 22), the Namakkal zone of the National Egg Coordination Committee cut egg prices to Rs2.80 per piece. The price was then further cut to Rs2.70 per piece on Thursday (Nov 26).

Namakkal egg prices are seen as the benchmark in the country.

Since touching a record Rs3 per egg, the prices have dropped 10 percent in a fortnight. The decline comes despite that winter is usually the peak consumption period, especially in the North.

During the Sabarimala season that extends till January 15, consumption of non-vegetarian food, including egg, is low in the South.

The surge in prices to over Rs3 per egg has reduced the buying capacity of the consumers, said a poultry farmer.

Poultry industry sources said the resistance to the soaring egg price had led to fears that the inventories would build up, eventually leading to massive waste as eggs are perishables.