"Why are egg prices like this?"...Up 18% in 5 months without knowing the cause

[Financial News]  The domestic egg price has surged 18% in 5 months, continuing the 'egg-flation' situation.

According to the Livestock Products Quality Assessment Service on the 29th, the retail price of 10 special eggs is 3,851 won, up 18% compared to the end of last year. Compared to the end of May last year, it has risen by 15%.

The government announced at the 'Price-Related Vice Ministers' Meeting' held on the 16th that "there is no clear reason for the increase in egg farm prices" and stated that they would conduct on-site inspections. The first on-site investigation has been completed, and a comprehensive inspection focusing on shipment volume and distribution margin structure is planned.

An official from the Ministry of Agriculture, Food and Rural Affairs said, "In March, the Korea Layer Association raised the farm price of 10 eggs by 34 won in a month, which is the highest level ever," adding, "It is difficult to understand as there is no special reason for the current sharp price increase."

He continued, "The current price surge is more severe than during the 2021 highly pathogenic Avian Influenza (AI) when 16.7 million laying hens, a quarter of the total, were culled."

The Ministry of Agriculture and Food plans to actively cooperate with the Fair Trade Commission by faithfully submitting materials for a collusion investigation.


gaa1003@fnnews.com An Gaeul Reporter