MADINAH: Egg prices have dropped, with prices SR9 to SR13 for a tray containing 30 eggs, largely because of oversupply and producers wanting to get rid of their stock before the high summer temperatures hit the Kingdom.

Dealers were quoted as saying by a local publication on Friday that production is between 3.5 billion and 4 billion eggs a day, which has created a surplus of 1 billion in local markets.

Sales supervisor Sameh Abu Allatah said that he believes the drop in prices is due to high output and producers seeking to get rid of their stocks before the temperatures shoot up.

Abdullah Al-Qado, head of the Chicken Producers Society, said it is expected that egg prices will fall this Ramadan because of the oversupply. There was now a surplus of 8.8 million cartons on the market.