Wholesale chicken egg prices have surged to VND 2,600 – 2,800 per egg at farms, almost doubling from their low of VND 1,300 – 1,400 per egg.
Chicken egg prices have been on the rise since the end of June.
Le Thuy, owner of a 3,000-hen chicken farm in Son Tay, Hanoi, shared that chicken egg prices have been on an upward trend since late June. “There was a time when wholesale chicken egg prices reached approximately VND 3,000 per egg. We farmers are delighted with the current prices as they help make up for the significant losses we incurred earlier this year when prices plummeted to VND 1,300 – 1,400 per egg,” she said.
In the retail market, chicken eggs in Hanoi are advertised at VND 3,000 – 3,500 per egg, while those marketed as free-range eggs from rural areas command a higher price of VND 4,000 – 5,000 per egg.
The upcoming Mid-Autumn Festival and concerns over African swine fever may have contributed to the increased demand for chicken eggs, as consumers opt for eggs as a substitute for pork.
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Chu Thi Hong Thuy, Vice Chairman and CEO of Tafa Group, attributed the surge in chicken egg prices to three main reasons: a reduction in supply due to many farms downsizing or halting production following the low prices in 2024; an 8-10% increase in exchange rates; and a rebound in domestic consumption and exports to Cambodia, Laos, and the Middle East.
Notably, according to Mrs. Thuy, the average egg price in Vietnam during the first half of the year remained lower than that of other Southeast Asian countries and many parts of the world, giving the industry a distinct competitive advantage.
Looking ahead, prices are expected to remain higher than at the beginning of the year but relatively stable, with potential for slight decreases or plateaus. Businesses should seize the opportunity presented by the favorable pricing and technological advancements to enhance their international competitiveness.
Recovering egg prices enable businesses to improve profit margins and invest in technology upgrades.
Mrs. Thuy shared, “The recovery in egg prices allows Tafa to leverage Vietnam’s price advantage to expand our export market share and improve profit margins to invest in technology upgrades.”
To achieve this, Tafa Group is focusing on technology-driven production by automating chicken coops, optimizing feed formulas, and utilizing AI in flock management to increase productivity and reduce costs. They are also optimizing logistics costs and developing value-added products, such as organic and functional eggs, to enhance the value proposition while maintaining competitive pricing.
For the sustainable development of the egg industry, the CEO of Tafa Group emphasized the need for a precise data and forecasting system, utilizing Big Data and AI to balance production and prevent oversupply. Additionally, strengthening the value chain through long-term collaborations between businesses, farmers, and distributors, with shared benefits and risks, and standardizing product quality are crucial steps.
“It is essential to innovate our products and develop the market by reducing dependence on fresh eggs and expanding our global reach with a diverse range of offerings,” Mrs. Thuy emphasized.
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