Government will add eggs at cheap prices to marketThe government said Wednesday that it will supply 4 million to 5 million fresh eggs that customers can purchase at cheaper prices to stabilize the market during the first two weeks of next month. These eggs will be more than 30 percent cheaper than retail prices.
The fresh-egg market, which was hit hard by the avian influenza in the country late last year, has begun stabilizing, starting May 18, according to the Ministry of Agriculture, Food and Rural Affairs.
The average retail price for a tray of 30 eggs dropped from 8,027 won ($7.10) on May 17 to 8,000 won on Tuesday. The price rose as high as 9,500 won in January due to the AI outbreak, but it appears that the market is stabilizing.
The number of layer chickens that were affected the most by the virus amounted to about 4.42 million this year. The government expects it to surpass the 60 million by next month, which will be about 88 percent of where it was a year ago.
By Kim Young-nam
More in Economy
Tapped out and hunkered down, Korea stares recession in the face
Property owners get big tax shock
Household debt keeps climbing despite gov't efforts
Career interruptions due to marriage and childbirth down 11 percent
Despite vaccine shot in the arm, credit risk remains in markets