Egg prices soar: the spring market scramble

As spring holidays approach, egg prices have reached near-historic highs in many parts of the world. The market has been scrambled by a combination of factors, including disease outbreaks, high demand, and rising costs for farmers.

For the second consecutive year, consumers are facing sticker shock ahead of Easter and Passover, both occasions where eggs play prominent roles. While global egg prices are currently lower than they were at this time last year, they remain elevated.  

The avian flu is a major culprit behind the price surge. Outbreaks of this deadly respiratory disease were reported in Europe, Africa, and Asia in 2020, and it spread to North America in 2021. In 2022 alone, over 131 million poultry worldwide died or were culled on affected farms, as reported by the World Health Organization. Unfortunately, these outbreaks continue to impact the industry.

Farmers are struggling to maintain profits during periods of inflation. Chicken feed represents a substantial portion of their costs, and feed prices have skyrocketed. Additionally, weather conditions and the ongoing conflict in Ukraine contribute to the challenges faced by farmers.