Egg prices roughly 40% higher as maize diverted to ethanol
Business
Eggs are a lot pricier lately, up about 40% over the past year.
The main reason? Maize (corn), which is crucial for chicken feed, has become way more expensive because a big chunk of it is now being used to make ethanol fuel instead of feeding chickens.
Right now, eggs cost ₹7 at farms and up to ₹9 in stores.
NECC warns eggs may rise further
Maize makes up most of the cost to produce eggs, so when its price nearly doubles (now at ₹26,500 per ton), farmers feel the pinch, and so do shoppers.
With winter demand coming and no sign of maize getting cheaper, the National Egg Co-ordination Committee warns eggs are likely to rise further and may remain firm and potentially rise as winter approaches.
India is even importing maize now just to keep up with demand for both fuel and food.