It’s not only in South Africa that eggs are becoming more expensive.
A resurgence of bird flu has resulted in rising egg prices around the world. CNBC newswire in New York took a look at where and why egg prices are rising, and how consumers are reacting.
“After having subsided for most of 2023, a recent resurgence of avian influenza in poultry facilities across the U.S., Japan, and other nations has caused prices of eggs to jump,” the news agency said.
Bird flu was not the only thing impacting egg supply. Other driving forces include hot weather and higher meat prices, which were pushing some people to look for alternative proteins.
“Many countries and regions worldwide like the U.S., EU, Russia, South Africa, India, and Nigeria face historically high price levels,” Nan-Dirk Mulder, a senior analyst at agribusiness bank Rabobank, told CNBC via email.
“The reason for the big surge in egg prices is HPAI (highly pathogenic avian influenza) hitting egg farms and killing chickens and cutting egg production,” said David Anderson, a professor and food economist in the Department of Agricultural Economics at Texas A&M University.
Mexico, which has the world’s highest per capita egg consumption, and Japan, which is the second highest, have both seen recent steep rises in egg prices. Japan’s followed a bird flu outbreak, while Mexico suffered a heatwave that killed numerous hens.
The CNBC report quoted a consumer saying he was starting to stock up on chicken and eggs: “Remember, you can freeze chicken eggs for a year if you do it properly.”
According to the U.S. Department of Agriculture, “frozen egg products will remain safe indefinitely” — but store up to one year for the best quality.
