Several egg producers with limited capital suspended their operations after incurring losses due to overproduction last year, a stakeholder said on Wednesday.
Egg producers are also worried over possible losses due to bird flu infection, said Philippine Egg Board Chairman Gregorio San Diego.
There was a surplus last year as inventory exceeded the demand even as fuel and feed prices climbed, San Diego said.
"If we overproduce, we lose a lot of money...So a lot of farms, small and medium producers stopped their operation, the big ones reduced their volume," San Diego told ANC.
"Yung iba wala nang puhunan ung iba natatakot na maginvest, una may sakit pa, pangalawa yung presyo. Yung mga wala nang capital, ayaw na nila pumasok sa business, yung iba naman wait and see kung mag stabilize bago sila pumasok ulit," he said.
The presence of bird flu is also preventing those without large capital from entering the market, he said.
San Diego said there is a vaccine against bird flu but it needs to be approved by the Department of Agriculture, after which the DA would recommend the import of the said vaccine.
He said the DA should also produce data to help match the production with the demand.
"The problem here really is there is no data. We have been asking the Department of Agriculture to do a database, chicken, eggs,
Kasi hindi nagma-match yung production sa demand eh," he added.
Based on DA monitoring, medium-sized eggs retail at P9 as of Jan. 13, higher than the P6.90 reported in December last year. Some say eggs are being sold as high as P9.60 in some markets.