Nothing Has Avoided Rising... US Egg Prices Surge 30%

Egg Prices Soar Amid AI Expansion

[Asia Economy Reporter Kwon Haeyoung] The Wall Street Journal (WSJ) reported on the 22nd (local time) that egg prices have soared as tens of millions of chickens and turkeys across the United States have died in mass due to the spread of avian influenza (AI) in the country this year.

According to market research firm Earnberry, the average wholesale price of a dozen eggs in the Midwest region reached $5.36 in December. Retail egg prices rose more than 30% year-over-year from January to early December this year, making it the item with the highest price increase in supermarkets. This surpasses the overall rise in food and beverage prices.

Eggs, like milk and butter, are one of the main items consumers purchase when visiting grocery stores. To maintain price competitiveness, supermarkets are sacrificing some profits from egg sales to help limit the price increase. Some suppliers expect egg prices to stabilize around February to March next year, but cold weather may cause short-term production disruptions.

Dan O'Neill, Director at Angelo Caputo Fresh Markets, said, "We are trying to make eggs relatively accessible to consumers," but added, "The wholesale price of a dozen extra-large eggs has risen from $1.30 at the beginning of the year to $5.09 recently, so grocery stores have been selling eggs at prices somewhat higher than cost."

Labor, raw material, and logistics costs have risen this year, causing grocery prices to continuously increase. As egg prices also kept rising, some supermarkets have sold organic eggs at prices lower than conventional varieties. Egg suppliers stated that despite the price increases, consumer demand remains steady.

According to data from the U.S. Department of Agriculture, over 58 million poultry have died due to AI outbreaks, marking the largest scale in U.S. history. U.S. quarantine authorities cull all poultry immediately upon confirmation of infection to limit the spread of AI, with more than 40 million laying hens having died so far. Consequently, the supply of laying hens has decreased by more than 5% since the beginning of the year, down to 308 million.

WSJ expressed concern, stating, "The worst AI outbreak in U.S. history has caused an egg supply shortage and egg prices have soared to record levels."

Meanwhile, South Korea is also preparing for worsening egg supply due to AI spread by securing imported eggs. The government plans to import 1.21 million eggs from Spain next month, which corresponds to 2.7% of the domestic daily egg production (approximately 45 million eggs).

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