SEOUL, March 20 (Korea Bizwire) — South Korea’s egg prices fell sharply in recent weeks compared to last year, despite the massive culling of chickens, due to outbreaks of avian influenza, data by a local trade cooperation showed Tuesday.
The average price of a carton containing 30 eggs dropped to 4,718 won (US$4.40) as of Monday, down from 5,800 won in November and over 10,000 won early last year, according to the data by the Korea Agro-Fisheries & Food Trade Corp.
It said that while large numbers of birds have been culled to prevent the spread of avian influenza, there has been an increase in the number of egg-laying chickens.
As many as 5.8 million chickens have been slaughtered since November last year when the bird flu broke out.
The number of egg-laying chickens, on the other hand, rose 40.9 percent to 72 million during the fourth quarter last year from 51 million in the first three month period of 2017, industry watchers said.
“Farmers have brought more chicks than usual as they witnessed a surge in egg prices last year after the bird flu outbreak,” a source said.