Chicken Prices Jump 12% Due to Supply Shortage... Government to Import 5 Million Dutch Hatching Eggs

The government has decided to import 5 million Dutch hatching eggs (eggs used to obtain chicks) as chicken prices have recently been rising due to supply shortages.

The Ministry of Agriculture, Food and Rural Affairs announced on the 16th that Dutch hatching eggs will arrive in the country on the 17th.

While hatching eggs for laying hens were imported in 2017 due to the impact of highly pathogenic avian influenza (AI), this is the first time that hatching eggs for broiler practical use (chicks) are being imported.

Last month, the supply of broilers was 67.28 million birds, a 6.2% decrease compared to the previous year. As a result, the wholesale price, which was around 3,750 KRW per kilogram in July last year, rose by 9.3% to 4,098 KRW in July this year. Retail prices also jumped 12% during the same period, from 5,670 KRW to 6,352 KRW.

Previously, the Ministry encouraged additional stocking by broiler contract farmers and expanded the stocking of Samgye (three-yellow chickens). They also made efforts such as adding tariff quotas, but as the supply shortage of broilers continued, they pushed for the import of broiler hatching eggs to expand domestic broiler supply.

The Ministry plans to import about 5 million Dutch hatching eggs starting from the 17th through companies such as Harim and Dongwoo Farm to Table, and supply approximately 4 million hatched chicks to farms. Considering the rearing period, broilers are expected to be supplied to the market starting in October. The Ministry will subsidize part of the difference between the domestic chick price and the production cost of chicks hatched from imported hatching eggs.

Kim Jeong-wook, Director of Livestock Policy at the Ministry of Agriculture, Food and Rural Affairs, said, "The government is implementing various policies such as financial support for stocking by contract farmers to stabilize chicken supply," adding, "This import of hatching eggs is aimed at ensuring a stable supply of chicken, which closely affects the daily lives of the public."

[Image source=Yonhap News]

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