Reported 7 months ago
Senior journalist Ke Yingqing reported on June 11, 2024, that after experiencing egg shortages and soaring prices last year, the current oversupply of eggs has led to a drastic drop in prices. This week, both farm and wholesale prices of eggs fell by another 3 NTD per kilogram, reaching 27.5 and 37 NTD respectively, marking a new low in egg prices in nearly two years. The Taipei Egg Merchants Association revealed that some businesses in the south are selling eggs below market prices or feeding excess eggs to pigs due to oversupply. The Association is calling on the catering industry to reduce prices moderately to stimulate consumer demand. As per the latest information from the Agricultural Department, there are approximately 35.69 million egg-laying hens in Taiwan, producing around 121,700 crates of eggs per day, exceeding the daily demand of 120,000 crates. However, with the arrival of summer leading to a decrease in egg consumption, the surplus of eggs is growing, causing a downturn in the overall market for agricultural products. Therefore, the egg industry is faced with the challenge of excess production and the need for government support for chicken farmers as prices continue to fall.
Source: YAHOO