The Price of Green Onions Has Stabilized... But Egg Prices Keep Rising

Highly Pathogenic AI Eradicated, but It Takes 5 Months to Raise Laying Hens

Lee Ok-won, the 1st Vice Minister of the Ministry of Economy and Finance, visited the Nonghyup Hanaro Mart Yangjae branch in Seocho-gu, Seoul on the 4th to check the price and supply-demand trends of agricultural and marine products. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Jo In-kyung] Egg prices, which surged at the end of last year due to the impact of highly pathogenic avian influenza (AI), have continued to soar for several months. With wholesale prices exceeding 6,000 won per tray (30 eggs), retail prices are hovering around 10,000 won.

At one point, the price of green onions, which was about twice the average price, has returned to normal levels.

10,000 Won per Tray... Eggs Become Golden Eggs

According to the Livestock Products Quality Evaluation Institute's Livestock Distribution Information on the 5th, as of the 3rd, the average consumer price for a tray of eggs (special grade) was 7,508 won, maintaining a range of 7,000 to 8,000 won for five consecutive months since the end of January this year. Wholesale prices have already exceeded 6,100 won per tray.

Compared to the price of 5,168 won on June 4th last year, this represents a 45.3% increase over one year. In some regions, prices have even surpassed 10,000 won per tray depending on the retailer.

Until last summer, egg prices hovered around 5,200 won, but after highly pathogenic AI was confirmed in wild birds in late October, prices quickly rose to the 5,700 won range. Entering the new year, prices climbed to the 6,000 won range, and by the end of January, they exceeded 7,000 won. This means prices surged by 30% in just over 100 days.

Although the government released about 20 million eggs imported from the United States to large supermarkets, retailers, restaurants, and egg processing companies just before the Lunar New Year holiday, consumer prices peaked at 7,759 won on February 17 and have remained at similar levels for over two months.

A representative from a major supermarket explained, "After the outbreak of highly pathogenic AI last year, a large number of laying hens were culled, and even the older hens that used to lay eggs are now experiencing reduced productivity. Egg supply cannot keep up with demand, so prices continue to rise."

Source) Livestock Products Quality Evaluation Institute Livestock Distribution Information

One-Quarter of Laying Hens Lost Since AI Outbreak

The government reports that since April 6, there have been no nationwide occurrences of highly pathogenic AI, and since most migratory birds, the main infection source, have left Korea, AI is considered effectively eradicated.

According to the Ministry of Agriculture, Food and Rural Affairs, from November last year to the present, culling due to highly pathogenic AI has reached 1,849,000 meat ducks, 16,745,000 laying hens, 6,984,000 broilers, and 1,337,000 breeding chickens, totaling 29,934,000 poultry. More than half of the culled poultry were laying hens, and the total number of laying hens is estimated to have decreased by about 23% compared to before the AI outbreak.

The government additionally imported 40 million eggs in April and May and has exempted emergency tariff quotas on imported eggs. The distribution industry, together with the Ministry of Agriculture, has also taken steps to stabilize prices by offering 10-20% discounts on eggs through campaigns such as 'Let's Farm Discount'.

A major supermarket official predicted, "Considering that it takes at least 5 to 6 months for chicks to start laying eggs, it will likely be around October before farms can raise laying hens again and normalize supply."

Source) Korea Agro-Fisheries & Food Trade Corporation (aT)

Green Onion Prices Near Normal Levels

Green onion prices, which once approached 7,000 won per bundle, have stabilized. According to price information from the Korea Agro-Fisheries & Food Trade Corporation (aT), on the 4th, the price of a bundle of green onions (1 kg) was 3,200 won, down 40.3% from 5,357 won a month ago and 49.6% from 6,350 won two months ago. Compared to the record high of 7,575 won in early March, prices have dropped by more than half (-57.8%).

Green onion prices were in the 3,200 won range per bundle in early December last year but rose above 4,000 won this year, surging to 6,400 won just before the Lunar New Year holiday, and continued to rise for more than half a month afterward.

The price increase was caused by a significant reduction in production due to consecutive cold waves and heavy snowfall last winter. As some delayed shipments began to enter the market from March, green onion prices gradually stabilized and are approaching the usual level (the recent 5-year average of 2,755 won).

This content was produced with the assistance of AI translation services.