Hyderabad: Egg prices in the city have fallen sharply over the past three days following disruptions to exports caused by the ongoing war involving Iran, Israel and the United States.
The decline is mainly attributed to the halt in egg exports to West Asia. In the wake of the war, several key ports and airports in the region have been affected due to heightened security concerns and disruptions to shipping routes.
As a result, exports of chicken eggs from India have come to a standstill in some parts of the State.
Large quantities of eggs that were meant for international markets have now accumulated in local markets, leading to a sudden oversupply and a steep drop in prices.
Sharp fall in prices
The poultry industry fears heavy losses due to the export disruption. Industry representatives say the war in West Asia has significantly affected logistics and trade routes, impacting sectors dependent on exports to the region.
At present, the National Egg Coordination Committee (NECC) price has fallen to Rs 4.20 per egg. In some places, the price has dropped further to around Rs 3.30 following the halt in exports.
Normally, egg consumption declines slightly during the summer months, which results in a seasonal drop in prices. However, poultry farmers say the current fall is much steeper than usual.
War disrupts trade routes
The war between Iran, Israel and the United States has intensified over the past week, with both sides launching missile and air strikes on each other’s targets. Iran has also fired missiles towards Israel and US bases in the Gulf, while Israel has carried out attacks on Iranian infrastructure and Hezbollah positions in Lebanon.
The fighting has killed more than 1,200 people in Iran and dozens in Lebanon and Israel.
The escalation has rattled global markets, pushed up oil prices and slowed shipping through the Strait of Hormuz, a key maritime route for trade with West Asia.
