This reduced premiums for attributes like cage-free, vegetarian-fed and organic eggs by as much as 34%. In response, the US Food and Drug Administration (FDA) issued temporary exemptions from certain food safety standards for breaking stock egg producers wanting to sell into the retail table egg market. In contrast, prices for breaking stock eggs – primarily used by the hospitality channel – fell by 67%. The pandemic increased retail and farm-gate prices for table eggs by approximately 141% and 182%, respectively. The global market is still experiencing disruptions due to COVID-19. According to EFSA, over 50 million birds have been culled across the 37 affected countries, significantly impacting supply and layer number. The world is currently in the grip of the worst bird flu outbreak in history. “Feed represents 60% to 70% of a layer farmer’s costs, so any change or uncertainty surrounding feed costs affects egg prices and supply,” said Mulder. Many markets – including Europe, Brazil, Mexico, the US, Japan, the Philippines and New Zealand – are seeing historic highs at the same time.įeed has played a significant role, with global feed prices doubling between mid-2020 and mid-2022. “Rabobank’s global egg price monitor reached a new record in Q1 2023, with the index now peaking above 250, which means prices are 2.5 times higher than the reference year of 2007, and have increased more than 100% since this time last year,” said Nan-Dirk Mulder, senior analyst, Animal Protein at Rabobank.Īccording to the market researcher, what makes the current situation unique is that it is a global phenomenon. Thanks to the perfect storm of runaway inflation, rising feed costs and the worst avian influenza outbreak in history, egg prices have reached record highs across the world and Rabobank expects the scenario to continue throughout 2023. Packaging & Packing Materials, Containers.Processing Equipment & Systems, Automation, Control. Filling & Packaging Equipment & Systems.
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