This article is reproduced from [CCTV News]
△Korea Street View (Data Photo)
The Korean Rural Economic Research Institute issued a report on the 8th saying that the country's egg prices reached the highest level in four years in May, and the upward trend is expected to continue until at least August.
South Korean media quoted the content of the agency's report that the average retail price of 30 large eggs in South Korea reached 7,026 won (1,000 won is about 5.3 yuan), breaking through 7,000 won for the first time since July 2021.
The agency also predicts that the farm delivery price of 10 packs of large eggs in June is expected to increase by 12.4% to 18.5% compared with a year ago, up 9.9% to 15.8% from the average price from 2020 to 2024; after July, egg consumption enters the off-season, and prices will fall slightly from the previous month, but it is expected to rise by 8.2% to 14.4% compared with August last year.
The delivery prices of Korean egg farms have continued to rise in recent months, with 10.2% and 12.2% year-on-year in April and May respectively, and retail prices have also risen accordingly.
The Korean Rural Economic Research Institute attributes the continued rise in egg prices to the decline in egg laying hens' aging and the outbreak of avian influenza and chicken cholera. Every year, the autumn, winter and spring are the avian flu epidemic season in Korea.
The Chosun Ilbo reported that in addition to egg prices, the price of chicken production in South Korea also rose to 1.5 times that of a year ago in May.
