News
Freed from regulation, price of an egg leaps to Rs 65
View(s):Producers are now selling eggs at prices ranging from Rs 55 to Rs 65 after a court suspended the maximum retail price fixed by the consumer regulator.
The Consumer Affairs Authority (CAA) had fixed a price below that of the previously gazetted maximum retail price and poultry producers rejected it.
Poultry producers had earlier gone to court against the previously gazetted maximum retail price for eggs. The CAA was then asked to fix a new price. However, as the CAA has determined a lower price, the producers again rejected it.
The gazette notice was suspended by a court and the case was refixed for hearing on February 6.
In August, the CAA declared a maximum retail price for white and red eggs at Rs 43 and Rs 45, respectively. Poultry farmers challenged the gazette notice in court.
The Court of Appeal directed the CAA on Wednesday to formulate a new price. And on the following day, the CAA decided to set the price at Rs 42 and Rs 44 for white and brown eggs, respectively.
The case was called before Justices Prasnatha De Silva and K.K.V Sawarnadhipathi.
Kuvera De Soyza, PC, who appeared for the poultry producers association, told court that the clients do not agree to the prices laid down by the CAA.
Following the suspension of the gazette, prices soared. Consumers complained of higher prices and limited supply. Prices vary among retailers.
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