Eggs-pensive omelettes

Over the last year, the price per egg has increased by about Rs10, of which the Rs5 hike has come over the last month alone. Though some media reports point towards profiteering by shopkeepers, the recent price hike seems to be driven by a demand and supply gap for a key ingredient in poultry rearing — soybean meal. Over the last five years or so, the poultry industry has increased the use of soybean meal in its feed rations. Because of its high protein content, it makes for fatter, healthier chicken. Chickens also tend to grow faster and fully mature in fewer days when fed a diet of soybean meal. However, its price has escalated amid a shortage because of the government’s ban on genetically modified soybeans in October 2022, which has led prices to surge over the months. Grandparent stock, which, as the name suggests, leads to the production of broiler chickens for consumption, is also declining. Fewer chickens equals fewer eggs.