The surge in retail prices of eggs over the last few days in Thailand has been blamed on a combination of panic buying and price gouging by some traders.
Demand for chicken eggs has soared as uncertainty over the coronavirus (covid-19) situation in Thailand continues according to the President of the Layer Chicken Association, Manote Chuthapthim.
Responding to the spike in prices, the Commerce Ministry of Thailand has issued a stark statement against the illegal profiteering practice. They also mentioned that egg output remains stable at 41 million per day and people should not panic buy.
Egg prices have increased by approximately 50 satang compared to last month with an increase of more than one baht per egg compared to this time last year in a central Bangkok market.
However, outside the capital, people in the provinces have complained about price increases as much as four times what they would usually pay.
Shoppers have been increasing their purchasing of eggs with some people buying by the dozen or more when they would usually only buy 3 or 4 eggs at a time.
Traders and shop owners who increase the prices of their eggs have been warned that they could face penalties including jail and fines.
Source: Bangkok Post