Since the beginning of the new year, the price of a carton of 20 eggs in the Korean market has been approaching $20, concerning local shoppers’ budgets.
Last weekend, a carton of 20 eggs sold for $17.99 to $18.99 in some markets in LA Korean Town. Mayi (52), who was shopping at the market said “I think the price of eggs has doubled in a month,” adding, “The 12 eggs I originally bought were about $6.99, but now they have exceeded $10.” “I used to buy three editions each, but it’s too expensive, so I can only buy one now,” he said.
Yong Kim (67) also said, “The price of eggs in the Korean market is too high, so I usually buy eggs at foreign marts,” adding, “I buy eggs because I really need them, but it’s stressful because they’ve risen too much.”
According to the latest statistics from California Main Food, an egg producer and distributor, the wholesale price of 12 regular eggs rose $1.15 in a year to $2.88. Organic eggs, on the other hand, rose from $1.89 to $2.37 over the same period, making them cheaper than regular eggs.
The Federal Department of Agriculture (USDA) blamed avian influenza for the rise in egg prices. As a result of the influenza, 58 million died at the end of last year due to the infection, which had a mortality rate of more than 90%. As a result, egg prices in November last year were up to 49% higher than a year ago.
Korean markets are on alert to secure supplies. “Wholesale prices have also risen due to avian influenza, but the bigger problem is that it is difficult to secure enough supplies,” said Jay Bang, branch manager of Zion Market. “It is difficult to secure eggs, which is causing disruptions in sales.”
“The California cage-free law, which took effect on January 1st of last year, makes little difference between organic and regular eggs,” he said. “The food that chickens eat is just different.”
Regarding the future outlook, California’s Main Food predicted that egg prices could continue to rise this year as supply decreases and consumption increases.