Eggs-traordinary crisis: Thailand’s soaring egg prices crack traders and consumers alike
The soaring cost of eggs in Thailand has left traders and consumers concerned, with some attributing the price hike to a shortage of supplies at farms and increased export demand.
Wanchai Rungmitcharatsaeng, a 65 year old egg shop owner in Khon Kaen’s Mueang district, has been in the business for over 20 years and claims that egg prices have reached an all-time high.
Consequently, many egg sellers have ceased selling the largest-sized eggs, known as No 0 eggs, fearing they may not sell as well as smaller and cheaper alternatives. Currently, No 0 eggs are priced at 145 baht per carton of 30 eggs wholesale, with each egg retailing at 6 baht. In comparison, the smaller No 1 eggs have a wholesale price of 135 baht per carton, with each egg costing 4.5 baht at retail, reported Bangkok Post.
Rungmitcharatsaeng said…
“The farms supplying the eggs to my shop claim now is the time for replacing old hens with younger ones and demand for the export eggs is high.”
Egg prices have been steadily increasing over the past few months, with increments of 2–6 baht per carton each time, according to sources. Kosol Nadam, a 36 year old egg shop owner in Uthai Thani, also confirmed that egg prices are at their highest in decades.
Suthasin Amaruek, president of the Thai Egg Merchant Trade Association, questioned the rising egg prices of No 3, 4, and 5 eggs over the past two to three months, despite these smaller-sized eggs not being required for exports.
Amid increasing worries about rising prices in the country, the Bank of Thailand is planning to hike rates. They will adjust the policy benchmark rate in August and September. With various policies and ideas, the Bank of Thailand aims to deal with higher costs from the growing demand, especially in the recovering tourism sector.
Through these strategies, the Bank of Thailand hopes to control the inflation rate and support a stable economy. Read more HERE.
