80 Billion Won Wasted on Brazilian Eggs? ... President Lee: “Those Spreading False Claims Must Correct Them”

[Financial News] President Lee Jae-myung on the 15th rebutted claims by some that 80 billion won was wasted on imports of Brazilian eggs, saying they were untrue. He explained that the actual purchase price was around 178 won per egg and that total import costs came to just 1.6 billion won. He stressed that the imports of Brazilian eggs were intended to secure an alternative source of supply and stabilize domestic prices.
That day, President Lee posted a message on X (formerly Twitter) titled “Cheong Wa Dae Public Relations Office Fact Check,” writing, “The purchase price of Brazilian eggs was about 178 won per egg, in line with market prices, though additional costs, including those for long-distance air transport to the other side of the world, were substantial. Even so, the quantity accounted for 0.8% of total egg imports, and total import costs were about 1.6 billion won.” He added, “The domestic selling price of Brazilian eggs is about 140 won per egg.”
This was a rebuttal to claims that the government imported eggs from Brazil at 1,300 won each for a summit with Brazil, paying three to four times more than for U.S. eggs (464 won) or Thai eggs (305 won), and wasted 80 billion won in the process.
President Lee also explained why the Brazilian eggs were imported. He said that this summer, as domestic egg prices surged and supply shortages emerged, supplies available for export were also insufficient in Asia and the United States, the existing sources of imports, making it necessary to find new suppliers. The government therefore imported a small quantity of eggs from Brazil on a trial basis to secure an additional alternative source of supply.
President Lee stressed, “When domestic consumer prices soar because of supply shortages or other reasons, bringing in more expensive supplies from overseas and selling them domestically at lower prices is a measure authorities routinely take to manage prices for ordinary people.”
President Lee added, “It is inappropriate to spread false claims that ‘80 billion won was wasted buying Brazilian eggs at inflated prices to give Brazil preferential treatment because of the summit,’ thereby damaging the reputations of policymakers, when materials on Brazilian egg imports were distributed truthfully as shown below and their contents make the Brazilian export price readily verifiable.”
He also urged, “Those spreading false claims for political purposes should correct them.”
[email protected] Choi Jong-geun Reporter