Major discount chains are expanding sales of imported eggs as egg prices climb in the wake of highly pathogenic avian influenza (AI). After Homeplus brought in Thai and American eggs, E-mart is also considering selling Thai fresh eggs in the middle of this month.
E-mart is pursuing a plan to sell Thai eggs starting in mid-month, according to the retail industry on Wednesday. A portion of the Thai fresh eggs the government is importing additionally to stabilize egg prices is expected to be supplied to E-mart stores as well. This marks the first time E-mart has sold imported eggs.
Imported egg sales are spreading across major discount chains. In April, Homeplus sold a 30-count pack of Thai fresh extra-large eggs at 5,890 won, lower than the price of domestic eggs. Lotte Mart is also considering selling Thai eggs after American eggs.
The discount chains' move to bring in imported eggs is largely driven by unstable domestic egg supply. According to the Korea Rural Economic Institute, the average daily egg production last month was 45.79 million, down 3.6% from a year earlier. Since the outbreak of AI during the winter, the laying hen breeding base has weakened somewhat, slowing the recovery of production.
Prices are also on the rise. According to the Korea Agro-Fisheries & Food Trade Corporation (aT), the national average retail price of a 30-count pack of domestic extra-large eggs as of the 3rd was 7,472 won, up 4.1% from a month earlier. Compared with three months ago, it has risen by about 8%. Premium products such as antibiotic-free and organic eggs often exceed 10,000 won per 30-count pack.
Leveraging price competitiveness, imported eggs have been selling out quickly in early sales. The roughly 46,000 packs of Thai eggs prepared by Homeplus sold out, as did all 9,300 packs of American fresh eggs sold by Lotte Super. Lotte Super's American fresh eggs sold for 5,990 won per 30-count pack.
However, some assess that imported eggs have limits in stabilizing domestic egg prices over the long term. While Korea's daily egg consumption stands at about 50 million, import volumes are limited. For the time being, discount chains are expected to continue selling imported eggs alongside domestic ones, targeting general consumer demand burdened by high prices.
