The Bangladesh Poultry Association alleged that corporate syndicates of pocketing Tk 540 crore in profits by artificially inflating prices of chicks over the past 60 days.
According to a press release issued by the BPA on Friday, the price of each chick was Tk 30-35 until September 15.
However, since September 16, the prices of the same chicks have continued to increase and currently are being sold for Tk 55-110.
If the chicks are overpriced by Tk 30 each on average, an additional profit of Tk 9 crore has been generated each day. As a result the corporate syndicates made an additional profit of Tk 540 crore over the past 60 days, the press release said.
The association also pointed out that the corporate companies dominated the feed and chick market.
鈥楨ight to ten companies control the feed and chicken market. They increase and decrease the prices of feeds and chickens at their will to destabilise the market, due to which marginal farmers are going bankrupt,鈥� the press release read.
Many of the marginal farmers are shifting away from producing chicken and eggs, which will negatively impact markets across the country.
鈥楾he government fixed 5 per cent profit limits for the marginal farmers, while the corporate companies do not have any such limits. The government should end this discrimination between marginal farmers and corporate companies,鈥� said Md Sumon Hawlader, president of the association, in the press release.
The press release further said that to solve this crisis, breaking the syndicate and creating a fair competitive sector was essential. Ensuring transparency in the prices of feeds and chicks will decrease production costs, which will provide safety to the marginal farmers and ensure fair prices of these products at the consumer level.
The press release added three proposals, including taking strict actions against market syndicates, forming a market monitoring committee to check demand and supply of eggs and chicks, which will take immediate actions against any artificial price hikes, and setting fixed prices for chicks and feeds.
