Soaring Egg Prices in the US
Thanksgiving is an annual holiday celebrated in the United States. During this holiday, people often engage in activities such as egg-giving, as eggs are considered a symbol of rebirth and new life.
For this reason, leading up to Thanksgiving, this commodity is in high demand in the US, leading to a shortage. Along with the sudden spike in demand, prices have also surged.
According to the US Consumer Price Index, the average retail price of eggs in the United States has increased by 38% since November 2023. In November alone, the price of eggs rose by 8% – one of the highest monthly increases in the past two decades.
Data from the US Bureau of Labor Statistics shows that a box of a dozen large Grade A eggs cost $3.65 (91,000 VND) in November, up from $2.14 the previous year.
Photo: Zuma Press
Commenting on this issue, the Regional Director of the US Agricultural Food Institute at Wells Fargo stated that egg prices have been high since 2023 due to increased holiday demand and disruptions in the egg supply caused by avian influenza.
According to Bergquist, prices over the past year in the US have generally remained higher than in 2023 and have even “often exceeded 2022 egg prices, when the highly pathogenic avian influenza (HPAI), or ‘bird flu,’ truly hit the egg market.”
Bergquist announced that due to the resurgence of avian influenza in late 2023 and its persistence into 2024, the number of egg-laying hens has declined, leading to a shortage in the egg market. Farmers have not yet been able to fully rebuild their flocks due to the ongoing disease this year.
According to data from the US Centers for Disease Control and Prevention, approximately 33 million commercial egg-laying hens died from avian influenza in 2024.
Ryan Hojnowski, an egg analyst at Expana, an agricultural market research firm, stated that this “has caused an egg supply shortage.”
Facing this situation, economists advise consumers not to panic. They argue that “egg inflation” and sudden price hikes in some staple foods are reflections of isolated incidents rather than systemic issues.
Vietnam’s Egg Prices Expected to Drop During the Lunar New Year
Eggs are a fairly common commodity in Vietnam. Due to their low price and abundant supply, they can be found anywhere, from supermarkets and traditional markets to street vendors and sidewalks.
At farms, the price of the largest eggs is currently as low as 1,650 VND per egg, while the smallest eggs are 1,500 VND each. With these farm-gate prices, supermarkets are selling fresh eggs to consumers for around 28,000 – 30,000 VND per ten eggs; salted duck eggs are priced at 26,500 VND for six eggs… Compared to the previous period, egg prices have not increased and have even been discounted by supermarkets by 12 – 50% depending on the type and brand.
On the other hand, eggs sold at traditional markets or sidewalks are even cheaper. Currently, sidewalk vendors are offering “combo” deals of 30 eggs, ranging from 50,000 – 65,000 VND per 30 eggs, depending on the area.
According to several egg producers, there will be no shortage of fresh and processed eggs during the end of 2024 and the upcoming Lunar New Year. Regarding prices, these producers forecast a 5 – 10% decrease compared to last year’s Lunar New Year. This is due to more people switching from raising pigs and meat chickens to laying hens, and the large-scale egg producers still having abundant flocks.
Notably, following the Lunar New Year holiday, egg prices tend to decrease as consumer demand wanes after the festive surge. Additionally, during the holiday period, the egg supply remains high while collective kitchens for workers, students, and pupils remain closed for an extended period.
Another reason cited by farm owners for the post-holiday drop in egg prices is that the first months of the year in the North are often characterized by humid weather, causing mold on eggshells and impacting their quality. Most small poultry farms lack cold storage facilities and are therefore forced to sell their eggs in bulk.
‘Unprecedentedly Cheap Chicken Eggs Sold Out in Hanoi’
On the bustling streets of Hanoi, such as Hoang Quoc Viet, Nguyen Khuyen, Tam Trinh, Nguyen Chi Thanh, Trung Kinh… many chicken eggs are being sold. The sellers hang signs advertising that these are local chicken eggs, 30 eggs for 65,000 Vietnamese dong, which is just over 2,000 dong per egg; with red eggs priced at 1,800 dong per egg.
Declining purchasing power for meat and eggs
After the prolonged Lunar New Year holiday, people tend to opt for light and clean eating, resulting in a decrease in demand for meat and eggs.
