As the government expands supplies of imported eggs, large discount chains will also cut retail prices. Attention is on whether egg prices, which surged recently, can stabilize.
The Ministry of Agriculture, Food and Rural Affairs said on the 13th that at the Government Sejong Complex it held the third summer countermeasures meeting on stabilizing supply and demand of farm and livestock products and will lower the price of imported fresh eggs (30-count) sold at E-MART nationwide from the current 5,890 won to 4,980 won starting on the 16th.
Of the fresh eggs the government is pushing to bring in additionally, about 10 million will be supplied first this week to E-MART, Lotte Mart, and the confectionery industry. After that, it plans to expand weekly supply volumes to around 20 million.
Starting today, fresh eggs from Brazil will also be distributed in the domestic market for the first time. Brazilian eggs have passed both domestic quarantine and food safety inspections and cleared customs procedures, and they are A-grade white eggs in the extra-large (XL) size, which has high domestic consumption.
Korea Agro-Fisheries & Food Trade Corporation (aT) explained that they are products certified by the Brazilian Ministry of Agriculture, Livestock and Supply (MAPA) and high-standard eggs weighing 61.42 grams or more per egg.
Lee Jae-uk, aT's supply and demand director, said, "We will continue to actively identify new import sources to establish a stable egg supply system and work to ease the burden of consumer prices," adding, "Imports of fresh eggs will be pursued in a balanced manner, taking into comprehensive account domestic poultry farms and the egg supply-demand situation."
Along with expanding egg supplies, the government will also run discount policies to lower consumer-perceived prices.
The ministry has been holding discount events for farm and livestock products since the 2nd through Sept. 2, and it plans to issue Nonghal vouchers, which can be used to purchase domestically produced farm and livestock products, in the amount of 20 billion won each month from this month through November. It also expanded voucher use from traditional markets to stores that handle domestic farm and livestock products.
Supply and demand for livestock products are also showing some improvement. Pork wholesale prices are trending downward as shipment incentives are expanded, and chicken supply is increasing due to expanded imports of hatching eggs for broilers, leading to a recent decline in retail prices.
The ministry inspected crop growth conditions after the monsoon season and judged that, so far, there have been no major disruptions to supply and demand. However, it plans to strengthen support for pest and disease control and growth management in case of continued heat waves and hot, humid weather.
Kim Jong-gu, Vice Minister of the ministry, said, "In summer, supply and demand for farm and livestock products can change rapidly due to torrential rain and heat waves," adding, "We will do our best to expand fresh egg supplies and provide discounts without setbacks to produce price stabilization effects that consumers can feel."