July 29, 2010

Thai egg prices on recovery road

After a spell of high prices caused by hot weather, Thailand's egg prices are now dropping steadily again.

Chicken egg prices have dropped steadily in Bangkok and nearby provinces since last week, according to the Department of Internal Trade (DIT) director-general Watcharee Wimuktayon.

According to reports, the retail price of Size 0 eggs must not exceed THB3.50 each, while the ceiling price of Size 1 eggs was THB3.30. Retailers cannot sell Size 2 eggs over THB3.20, Watcharee said, noting that the price for mixed egg sizes at the farm gate was set at THB2.70 each.

The DIT had asked fresh markets to make sure retailers sell their eggs at fair prices to consumers, she said.

Egg prices had previously soared due to high seasonal temperatures which resulted in a 20% drop in egg production.

Earlier, chicken egg exports were being suspended in a bid to reduce skyrocketing prices on the domestic market, according to Agriculture Minister Theera Wongsamut.

Thailand exports about 100 million eggs a year, about 1% of its domestic consumption which reaches 9.7 billion eggs.

Meanwhile, pork prices at the farm gate remained at THB61-62 per kilo so retailers can sell them at THB115-120 per kilo.