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Latvian competition authority checking egg prices

by 5m Editor
13 August 2006, at 5:21pm

LATVIA - Balticovo has announced it is to raise egg prices by around 10 pct and analysts expect the rest of the market to do more or less the same, reports Dienas Bizness.

Balticovo chief financial officer Andris Platais says the reason for the price hike is the rising cost of poultry feed. Feed prices have risen 15 pct and comprise around 70 pct of the cost of producing eggs.

Economists and other egg producers say that if Balticovo raises prices, they may follow the "price leader".

A spokesperson for the Latvian Competition Council said that the agency was monitoring the egg market, where there has been an increasing concentration of market share in a few companies.

Balticovo is the largest producer of eggs in Latvia.

ThePoultrySite Newsdesk

5m Editor