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Bangladesh Poultry Association (BPA) accused corporate syndicates of pocketing BDT 2.8 billion by artificially inflating the prices of eggs and chicken over 20 days. BPA President Md. Sumon Howlader raised this allegation in a press release on Saturday (October 5).

According to the association, consumers have been overcharged BDT 2 per egg, resulting in an excess profit of BDT 80 million daily on 40 million eggs sold. This practice, according to BPA, has siphoned off BDT 1.6 billion from consumers in just 20 days.

Additionally, the price of each chick was BDT 30-35 until September 15. However, each chick has been sold at BDT 40-56 since September 16. Layer chickens, meant for egg production, are being sold for BDT 70-80 per piece. With 3 million chickens produced daily and an additional BDT 20 charged per chicken, companies are making an extra BDT 60 million in profit daily, up to BDT 1.2 billion over 20 days. Together, the total loot from both eggs and chickens amounts to BDT 2.8 billion during this period.

The press release further stated that small-scale farmers produce eggs and chickens but cannot set prices. Corporate groups and the Tejgaon Egg Traders Association control prices. When prices are raised, farmers receive fair value, but when prices drop, they are forced to sell at a loss. Sometimes, farmers are forced to sell below production costs, leading them to exit the market. This market instability stems from the dominance of corporate groups and traders, who have repeatedly looted billions from the market without facing punishment, worsening market instability.

The BPA also highlighted that corporate groups and associations have strengthened their cartel, making the situation difficult for farmers. Instead of regulating the price of feed and chickens, authorities have allowed corporate groups to dictate egg and chicken prices. This has resulted in the rise of an old cartel, leading to market volatility. On September 15, the government set the price of eggs at BDT 10.58 per egg at the production level, with a suggested retail price of BDT 12. However, none of the groups involved in setting the price adhered to this directive. Although corporate producers admitted to selling eggs at BDT 11.01, they continued to sell them for BDT 11.80 to 12.50 per egg. The retail prices have reached BDT 14 to 15 per egg.