Importers have voiced concerns, claiming possible manipulation either at the wholesale or retail levels

Kushtia Correspondent:

Despite a significant reduction in import duty on eggs from India, following demands from importers and traders, egg prices in the market remain unaffected. This daily essential is still being sold at double the import price, sparking allegations of market manipulation.

Importers have voiced concerns, claiming possible manipulation either at the wholesale or retail levels.

Customs officials at Benapole, the country’s largest land port, said in response to appeals from traders, the government reduced the duty on egg import to 13% on 17 October.

Previously, each imported egg was subject to Tk1.83 in duty, which has now been lowered to just 77 paisa. Eggs are being imported from India at Tk5.80 per piece.  Including the reduced duty and other costs, the total cost per egg stands at Tk7.57. However, the eggs are being sold for as much as Tk14 in the local market, despite the government setting the retail price at Tk11.86.

In an attempt to stabilise the volatile egg market, the government authorised the import of 50 lakh eggs, with 9.89 lakh eggs already imported from India.

Abdul Latif, a representative of the importers, expressed frustration over the market price, saying that eggs imported at Tk7.57 are being sold at Tk14 to Tk15, an undesirable situation.

He cited additional transportation and handling costs, but still maintained that prices should have dropped. “Imported eggs are sold at a wholesale price of Tk8.50 paisa each,” he said.

The businessman strongly thinks that the price of eggs should have decreased further in the market after duty cut.

Latif urged the government to closely monitor both wholesale and retail markets to prevent potential manipulation.

Similarly, Nazrul Islam, a retail egg seller in Benapole, claimed they sell eggs at the prices they purchase, though he admitted to paying Tk12.80 for an egg, significantly higher than the government’s set price. He argued that if farm owners sell eggs at the government’s rate, retailers can do the same.

He stated that the government has fixed the maximum price of the egg at Tk11.87 per piece. “But we are buying eggs at Tk12.80 and selling them for Tk14,” he claimed, without specifying where he was purchasing eggs at that higher price.

When asked about imported eggs, Nazrul deflected, stating, “We don’t receive any imported eggs in the Benapole market.” He explained that their supply comes from local farms.

He added, “If farm owners sell us eggs at the government-set price, we can also sell them at the regulated rate.” Nazrul believes that if the authorities inspect farms, review vouchers, and closely monitor the process, farm owners might adhere to the government-mandated pricing.

Latif, however, was skeptical of retailers’ claims and suggested that opening the market to more importers could help stabilise prices further.

Rashidul Sajib Nazir, Deputy Director (Traffic) of Benapole Land Port, confirmed that eggs have been imported from India at Tk7.5 each, with nearly 10 lakh eggs imported between November 2023 and October 2024.

He believes that while this should have been enough to lower egg prices, additional monitoring is necessary to determine why the prices are not dropping.