Eggs Price Trend and Forecast

Eggs Regional Price Overview

Get the latest insights on price movement and trend analysis of Eggs in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Eggs Price Trend for the Second Half of 2023

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Egg prices were observed to be rising throughout the said period of H2’23 globally. In the French market, the monthly average prices went from around 2190 USD/MT in July’23 to about 2642 USD/MT in December’23. This yielded an astounding 20% (approximate) rise in egg prices within six months in France. Other European countries, too, reported a similar pattern owing to a massive decline in the production of eggs. In Italy, the egg prices averaged above 2700 USD/MT throughout the said time.
 

Eggs Price Chart

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The avian flu outbreak in America in the later months primarily affected the supply volumes. As per USDA (U.S. Department of Agriculture), more than 72 million birds have been killed in the past two years because of Bird flu. The American egg industry had maintained their supply volumes right this year, which had yielded an approximate 20% decline in the prices over the year, however, this infection spread again and pushed the price trend in the upward direction. Overall, mixed market sentiments were observed.

Analyst insight

According to Procurement Resource, given the current egg supply crisis, the prices are likely to rise further in the coming months.
 

Eggs Price Trend for the First Half of 2023

As the year began, egg prices continued their upward sprawl as the prices kept on rising all through the first quarter. High inflation raised food prices across the globe. Climate change inflicted heat stress and drought, which caused depression in bird populations. A wave of bird flu was also detrimental to the overall egg yield.

However, the price situation improved a little with the change in quarters since the grain costs normalized, and inflation came down a little. Overall, mixed price sentiments were observed for eggs during the said time period of H1’23.

Analyst Insight

According to Procurement Resource, with severe heat rise in summer months, the egg yield is expected to get hampered again, raising price concerns.
 

Eggs Price Trend for the Second Half of 2022

The second half of the year 2022 witnessed soaring egg prices, with the highest YOY jump of around 59% in any food product in December 2022. There are several factors that contributed to the skyrocketing egg prices.

The price of eggs, one of the most consumed food items, depends on the costs of rearing bird flocks. Since the Russia-Ukraine war began, the grain prices saw an upsurge, raising the bird food prices as well. Further, the severe heat and drought-like climatic conditions also plundered the supply. Avian flu in 2022 killed a lot of birds while affecting both the quality and quantity of remaining flocks. Overall, the egg prices observed a steep incline throughout the said period of H2’22.

Analyst Insight

According to Procurement Resource, as it takes 3-4 months for a chicken to get to the egg-laying stage, the prospects of early improvement in the price situation are very limited.
 

Eggs Price Trend For the Second Quarter of 2022

Asia

The unabated inflation in the farm and poultry input costs has caused the prices of eggs to explode globally. In the Indian domestic market, the prices have shot up by 18% compared to the last months. This high price is due to the declining production of egg-laying hens due to rising cases of avian flu, inflated feed prices, and worsened weather conditions.

The prices of farm feed and poultry medicines have shot up by around 80% since the beginning of the year. Selling an egg below 7 INR/piece is non remunerative for the farmers as they cannot recover the production costs due to the unprecedented rise in the input costs.

Europe

A severe outbreak of bird flu in France and exploding prices of food and feed due to the ongoing geopolitical confrontation are tightening the global egg supply causing the prices to inflate. According to the European Commission, the prices of eggs soared 22% Y-O-Y in the European domestic market. During the said period, the price averaged 180.19 EUR/100kg.

North America

According to USDA, the price of eggs soared around 44% Y-O-Y in the domestic market. The spread of highly contagious bird flu destroyed the potent egg-laying poultry chicks and decreased the egg stockpiles in the market, causing the prices to inflate. The price of Grade A large eggs averaged 2.86 USD/dozen in the domestic market. As per the latest USDA forecast, the wholesale price of eggs is expected to reach 1.70 USD/dozen by the fourth quarter of 2022.
 

Eggs Price Trend for the First Quarter of 2022

North America

In March 2022, wholesale prices for cartoned shell eggs in the United States continued to rise sharply due to limited availability and light to moderate supply. As offerings remained limited and supplies declined to a light to moderate level, wholesale prices for graded loose eggs continued to rise sharply, rivalling the spike witnessed in the early phases of the COVID epidemic in April 2020.

As the Easter marketing season approaches, marketers are concerned about potential supply interruptions due to recent outbreaks of highly virulent avian influenza in commercial flocks. Due to lower product availability, the amount of trailer load sales declined by 10%.

With a higher undertone, prices for truckload quantities of graded, loose white Large shell eggs jumped by 0.71 USD to 2.099 USD/dozen in national trading. The wholesale price of large cartoned shell eggs shipped to retailers in the New York market increased by USD 0.88 to USD 2.77/dozen, with a higher undertone.

Europe

Egg prices in the domestic market have increased significantly in recent weeks as a result of substantially higher demand exceeding available supply. The domestic market is vibrant, while orders from abroad continue to be extremely active due to the price differential with other European markets.
 

Eggs Price Trend For the Fourth Quarter of 2021

Asia

In Delhi, India the cost of eggs in the final quarter was around 540 INR/100 eggs while in the state of Uttar Pradesh the egg prices rose to 560 INR/ 100 eggs. The reason for the price rise was the high demand during the winters, although the supply was low. The cost to farmers was also high which caused the overall egg prices to increase in the region.

Europe

In UK during Q4 2021, the price decreased to 87.7p per dozen, falling by 2.7% from the previous quarter and higher by 7.4% as compared to same quarter of 2020. The total egg production, which was 18.7k MT, had also decreased by around 7.1% as compared to the previous quarter.

North America

In the US, egg prices were rising in the final quarter of 2021 due to issues in the supply chain. The price rose to 1.64 USD per dozen in December 2021. The rise in egg prices came after a poor harvest of soybeans and corn due to bad weather conditions which aggravated the feed costs and in turn affected the egg price in the region.

Latin America

The Brazilian production increased by almost 2% by November 2021 with a record high output of close to 54.5 billion eggs. The input costs had increased but so did their demand and consumption.
 

Eggs Price Trend For First, Second and Third Quarters of 2021

Asia

In China, egg prices rose sharply in August, increasing by 20% in a month. According to financial reports, wholesale prices rose by 1 yuan per catty in China and continued to rise. In August 2021, the price was 10.67 RMB/kg up from 8.89 RMB/kg in July, increasing by 20% in a month. There was a significant rise in the prices of not just ordinary eggs but also firewood, native and black-bone eggs. The rise in egg prices was a result of the rise in feed costs.

In India, the demand had fallen during the first quarter of 2021, due to the outbreak of bird flu. The demand bounced back in the second quarter, as consumption of poultry products increased as inexpensive sources of protein to build immunity amid the spread of second wave of coronavirus. The prices increased to 6-7 INR/egg amid tight supplies following the flu outbreak in January and February.

Europe

In 2021, Europe witnessed cases of avian influenza which heavily impacted the egg production in Poland as it observed the loss of laying hens as the virus started to strain the poultry industry. Several European countries were dealing with the cases of bird flu. As farmers faced the loss of laying hens, the costs of egg witnessed an upward trend amid its reduced supply. In Poland, egg prices on the wholesale market jumped by about 18-20% by the end of January. In France and Germany, the European Commission reported rising prices where in Spain, a major producing country, the prices remained weak.

North America

In the first quarter of 2021, egg prices soared in the US as result of higher-than-normal demand ahead of Easter festival as people dye eggs and prepare traditional recipes for Easter egg hunts. In January, the prices were 1.46 USD per dozen. Another factor for the rise in egg prices was the increase in the prices of corn and soybeans which in turn affected the feed prices and ultimately impacted the prices of eggs in the region.

Latin America

In Brazil, the demand stalled while the cost to farmers increased as a result of rising feed and other input costs like packaging. In the first two months of 2021, the production in Brazil had increased by 150.6% as compared to the same time in the previous year while exports to UAE alone increased by 209.7% since the levels in the same time in 2020.
 

Eggs Price Trend For the Year 2020

Asia

In China, the egg market was subjected to low demand amid high inventory levels which brought down the prices in the region down to multi-year lows. In May 2020, the prices had fallen to 368.92 USD/MT. African Swine Fever and the spread of the coronavirus pandemic were a couple of reasons which kept the inventories high amid low demands. In India, the prices for poultry products dipped by 15-30% as a result of the pandemic and also due to the spread of fake rumors of coronavirus spreading through poultry and egg products which reduced the demand and consumption in the region for most part of the year.

Europe

The out-of-home consumption fell due to the lockdown measures across Europe while food retail purchases received an unexpected boost. The demand for egg and its products reduced during the pandemic. The EU Commission reported that use of both shell eggs and egg products decreased by 0.2 kg to 13.8 kg per head of population (as compared with the figure of 14 kg in 2019).

Across the EU, organic eggs have become more important gradually over the years, growing from 3.7 % of production in 2012 to 6 % by 2020. In Denmark, the proportion of organic eggs was 30 % in 2020, and in Austria and Germany it was above average at more than 12%.

North America

In March, prices hit an all-time high of 3.09 USD a dozen in the US before a national emergency was declared. Eggs, being an inexpensive form of protein, witnessed a sharp rise in demand and was subjected to panic buying which resulted in low supplies as production remained unchanged. The rise in their prices was also a result of price gouging by several companies who saw the pandemic as an opportunity to increase margins.

Latin America

In 2020, the egg sector in Brazil was hit by the pandemic and was the worst year since 2010. The sector made around USD 1.63 million in 2020 with exports of 5300 MT.

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