Agriculture ministry blames egg price rises on ‘trader speculation’

BAGHDAD — Iraq’s Agriculture Ministry said Sunday there is no shortage in egg production and that recent price increases are driven by trader speculation rather than any supply deficit.

“There is no real crisis in egg production,” the ministry said, adding that locally produced quantities are sufficient to cover market needs and that poultry projects are operating steadily. It attributed the price rises to “speculative practices by some traders, through promoting the existence of a shortage in order to achieve quick profits.”

The ministry said domestic producers have launched initiatives offering eggs at reduced prices directly to consumers, helping to curb increases and restore market balance. Monitoring teams continue to track pricing and supply in coordination with relevant authorities to prevent monopolistic behavior. It urged citizens “not to panic or be driven by rumors or excessive purchasing.”

Egg prices have risen in recent weeks, prompting outgoing Prime Minister Mohammed Shia al-Sudani on May 1 to direct the Ministerial Council for the Economy to study the causes and report urgently to the Council of Ministers. Annual inflation reached 2.2% in March, with dairy, cheese and egg prices rising 8%, according to official statistics.