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MK DB |
Egg prices in South Korea have climbed back above the 7,000-won ($4.83) mark per tray, reigniting concerns over so-called “eggflation” as supply worries mount.
According to the Korea Institute for Animal Products Quality Evaluation on Thursday, the average retail price of a 30-egg tray of large eggs has exceeded 7,000 won since Dec. 15. Prices had peaked above 7,300 won in October before falling into the 5,900–6,000 won range in November, only to rebound within a month.
As of Dec. 23, the average consumer price stood at 7,010 won, up 0.8 percent from a year earlier and 8.3 percent higher than the seasonal average of 6,471 won.
Concerns over supply disruptions have intensified as outbreaks of highly pathogenic avian influenza spread among laying-hen farms. This winter season has seen 11 confirmed cases, nearly double the number recorded during the same period last year.
The Ministry of Agriculture, Food and Rural Affairs said some 3 million laying hens have been culled so far. With daily egg production estimated at about 50 million, the cull is believed to have reduced overall supply by 3–4 percent.
Meanwhile, controversy continues over whether price gains reflect market fundamentals. The Fair Trade Commission has been investigating potential collusion involving the Korea Egg Producer Association since June, though no findings have been released.
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