Egg prices to further spike amid tight supply
By Nidz Godino
"We are not the ones who dictate prices as farmgate price is only at P7 while retail price for medium egg ranges between P9 to P10," Philippine Egg Board Chairman Gregorio San Diego said egg prices are expected to further go up as prevailing prices for medium eggs ranged between P9 to P10 per piece.
San Diego stressed egg producers have no control over upward trend in the retail prices of eggs.
San Diego did not say how much retail price of eggs could increase but based on reports retail price in Laoag City reached at least P13 per piece.
"We have what we call threshold, for example, if retail price of eggs reaches beyond P10, consumers will no longer buy and eventually go down as we cannot afford to store eggs for too long, otherwise we will suffer spoilage," San Diego said.
San Diego cited experience in 2021, where egg producers were forced to sell eggs to traders at depressed prices because of low demand.
"That's what happened in 2021 where we agreed to sell our stocks to traders at low farmgate price to prevent eggs from rotting," San Diego added.
According to San Diego, farmgate prices of eggs ranged between P6.70 to P7.20 per piece.
"Traders who are getting their eggs in Batangas, farmgate price of medium sized is only at P6.70 but in Central Luzon, particularly Bulacan and Pampanga, it is P7.20 as these areas were affected by bird flu," San Diego noted.
San Diego noted that prior to increase in retail prices of eggs, difference between farmgate and retail prices was only centavos.
"We were surprised retail price of medium eggs is now at P10 per piece…it is too high but we cannot blame retailers who also want to earn," San Diego concluded.
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