Local egg producers on Wednesday reiterated their reasons for raising prices a day after President Ferdinand Marcos Jr. questioned why prices for the commodity have surged despite ample supply in the market. READ
Increasing transport and fuel costs and losses due to overproduction and avian influenza or bird flu are among those reasons, Philippine Egg Board Chairman Gregorio San Diego said after Mr. Marcos sought an explanation for the “wide gap” between the farmgate and retail prices of eggs.
Asked if egg prices may increase further, San Diego said: “That depends on the economy. That’s because we can’t store eggs, because they will rot. So, prices will only increase up to the level that people can buy them.”Several egg producers with limited capital suspended their operations after suffering losses due to overproduction last year, San Diego also noted, as inventory exceeded the demand even as fuel and feed prices climbed.
San Diego said there is a vaccine against bird flu but it needs to be approved by the Department of Agriculture, after which the agency would recommend the vaccine be imported.“The problem here really is there is no data. We have been asking the Department of Agriculture to do a database on chicken, eggs, because our production is not matching the demand,” the Egg Board chief added.
“So, we will have to have a look to see how to control that because we cannot explain almost one-half of the profit margin that we are seeing. We cannot attribute it to cost,” Mr. Marcos said.
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