Egg Prices Surge, Raising Concerns Over Summer Food Inflation

Prices for some agricultural, livestock, and fishery products have been on a continuous upward trend recently.

According to "Dabom," the livestock distribution information system operated by the Korea Institute for Animal Products Quality Evaluation, on Sunday (June 21), the national average retail price for 10 premium eggs this month was 5,222 won. This marks a 38.6% increase compared to 3,786 won in June of last year, and a 16.7% rise from 4,476 won last month.

Notably, this is the first time the monthly average consumer price for 10 premium eggs has exceeded 5,000 won.

The price for 10 premium eggs, which had remained in the 3,000-won range from March 2022 through April of this year, surpassed 4,000 won last month. Furthermore, it has recorded an average of over 5,000 won every day from the 28th of last month to the 19th of this month.

For a carton of 30 premium eggs, the average consumer price this month is 7,465 won, a 6.5% increase compared to June of last year (7,008 won).

In addition, the national average consumer price for broiler chickens this month is 6,650 won per kilogram, up 19.4% from June of last year (5,568 won).

The primary cause of the rising prices for eggs and chicken is a supply shortage.

The culling of laying hens due to highly pathogenic avian influenza that occurred last winter, along with improvements in stocking density for laying hens, have contributed to the supply shortage.

On top of this, the increased demand for summer health foods due to the earlier-than-usual arrival of hot weather is also cited as a factor behind the price hikes.
※ Please note: This article was translated by AI and may contain errors.