The government has permitted to import of 40.5 million eggs to stabilise prices and ensure the availability of this essential commodity.

The Ministry of Commerce granted approval for the import of the eggs to seven designated firms, a notification in this regard on Tuesday confirmed.

The domestic egg market has witnessed a sharp increase in prices over the past few months, driven by a supply-demand imbalance.

The cost of eggs has escalated to a record high, making it unaffordable for many consumers. This crisis has prompted the government to intervene by allowing imports to supplement the local supply.

According to the ministry`s statement, the import permission was granted following a thorough evaluation of the market situation. "We aim to bring down the inflated prices and ensure that consumers have access to eggs at a reasonable rate," said a senior official from the Ministry of Commerce.

Rising Prices

Currently, the price of a dozen eggs in Dhaka`s retail market ranges between Tk 175 and Tk 180, a significant jump from the Tk 100 to Tk 120 price range earlier this year. The rising prices have led to widespread consumer dissatisfaction and criticism of the government`s inability to regulate the market.

Market insiders attribute the price hike to multiple factors, including an increase in the cost of poultry feed, disruptions in supply chains, and the impact of recent flooding in some parts of the country that affected egg production.

The situation has also led to hoarding and artificial scarcity created by some unscrupulous traders, further exacerbating the crisis.

Import Initiative and Market Impact

The government`s decision to import 40.5 million eggs is expected to have a cooling effect on the overheated market. The seven companies authorised to import eggs are tasked with ensuring a steady supply to retail markets across the country.

However, experts caution that the success of the initiative will depend on efficient distribution and stringent market monitoring.