November 29, 2011

Government takes measures to regulate egg prices for Christmas

Efforts are being made this Christmas season to ensure that the high demand for eggs on the local market can be met and at affordable prices.{{more}}

A release from the Ministry of Agriculture said a meeting was held last week with producers, wholesalers/retailers and supermarket owners, along with representatives of the Consumer Affairs and Trade Departments to discuss all matters relating to the local production, supply, demand and regulation of prices for the month of December.

According to reports, it was agreed that local production for the months of November and December will adequately supply 85 to 90 per cent of the eggs required. Therefore, the decision was made to allow for the importation of the balance, which amounts to some 500 cases of eggs.

The report states that a number of measures have been put in place “to prevent price gouging and unwarranted price increases due to artificial scarcity during the season”.

As a consequence, the importation of eggs has been regulated for November and December to include only regular importers. No licence will be issued to speculators and any eggs imported outside of this arrangement will be confiscated and destroyed, a release from the Ministry said.