Egg Price Forecast to be Released Monthly… Government Abolishes Price Announcement

[Financial News]

The government has decided to abolish the regular announcement of egg prices and instead release monthly forecasts on how egg prices will change. The policy to expand the space for laying hens (egg-laying chickens) will not be enforced immediately and will be left to private discretion for the next year.
 The Ministry of Agriculture, Food and Rural Affairs announced on the 7th that it has prepared additional measures to reduce sharp rises in egg prices and supply instability. Until now, the government has announced egg prices, but in the future, the Livestock Products Quality Evaluation Institute will include price forecasts in the 'Egg Supply and Demand Trend Newsletter' published weekly.
 According to a survey by the Korea Rural Economic Institute, the farm price of eggs this month is expected to rise by more than 15% compared to the same period last year, with a price of 1,900 to 1,950 won for 10 special eggs.
 The cage area for egg-laying chickens will also be expanded from the current 0.05㎡ to 0.075㎡, but it will not be mandatory immediately and will be left to farm management until August 2027.
 However, farms that do not comply after September 2027 may face penalties such as fines. Additionally, the narrow breeding environment (0.05㎡ per chicken) will be removed from the egg shell number to prevent it from entering the market.
 The government will also increase support for farm facility investments. Currently, up to 5.1 billion won is provided per farm, but in the future, up to 13.2 billion won will be supported for large-scale farms. This is to expand facilities that can raise chickens and stabilize egg supply.
 Ahn Yong-deok, director of the Ministry of Agriculture, Food and Rural Affairs, said, "Expanding the breeding area is an essential measure to improve egg safety and animal welfare," and added, "We will actively work with farms to minimize egg supply and price shocks."

junjun@fnnews.com Choi Yong-jun Reporter