Egg Prices Rise 17% In Past Month Due To Inflation
Fried eggs, hard-boiled eggs, scrambled eggs — eggs are a well-loved staple in most households due to their versatility.
But egg-lovers might want to cut down on them for a while for the sake of their wallets.
In the past month, the prices of eggs have apparently risen twice. The increase saw overall prices rising by 17%, with a tray of 30 eggs now costing about $7.20.
This is reportedly due to global inflation as well as an outbreak of disease at one of Singapore’s largest egg farms.
Nonetheless, supermarkets assure that there is no shortage of supply and they have ramped up imports from other countries.
Egg prices increase in Singapore
Recently, Singaporeans have noticed that the prices of eggs have been rising.
According to Shin Min Daily News, prices have risen twice within the last month alone.
In the latest increase, prices went up by about 17%, or roughly $1.
Now, a tray of 30 eggs would cost approximately $7.20. Just 3 years ago, the price would have been about $3 instead.
Mr Ng from Ng Chuan Seng General Trading, an egg supplier company in Singapore, told Shin Min Daily that this rise in prices is unprecedented.
Besides the period during the bird flu outbreak, this has been the biggest increase in Singapore’s history.
Higher prices due to inflation & rising costs
Mr Ng also shared that the price increase is largely due to an overall rise in global inflation.
Besides that, chicken feed prices and logistics costs have likewise risen.
The Straits Times (ST) additionally reported that our local egg supply contracted towards the end of February.
This was because of an outbreak of Newscastle disease at Seng Choon Farm, one of Singapore’s largest egg farms. It led to production falling by about 40% to 50%.
Speaking to Shin Min Daily News, Mr Ng explained that many small egg farms in Malaysia had shuttered up. The number of chicken farms has also fallen.
Now, supplies are mostly coming from large farms. Since our imports from Malaysia have fallen, the drop in supply causes a natural increase in price.
Global supply and demand in the current volatile environment have also impacted prices.
Supermarkets assure that there is ample stock
Early on in the month, some customers allegedly noticed fewer eggs on supermarket shelves and worried that there was a shortage.
But supermarket operators including Sheng Siong and Prime have assured that there is ample stock.
FairPrice said that the fall in supply due to Seng Choon Farm is a ‘temporary disruption’.
They have since ramped up supplies from other sources like Malaysia and Thailand, reported ST.
In the beginning of March, the Singapore Food Agency (SFA) had also offered their reassurance, saying our imports of food sources like eggs are diverse.
70% of our eggs here are apparently imported from countries such as Malaysia, Thailand, Australia, Spain, and Poland.
Whenever there are disruptions to any one source, SFA will work with egg importers to ensure sufficient stock.
Rising egg prices will endure for a while
It’s great news that we won’t have to worry about going without an essential food item completely.
But since the higher prices may persist for a while, perhaps it would be wise for us to at least reduce our usage and intake for the time being.
Hopefully, in time to come, things will return to normal and we can go back to enjoying our delicious egg dishes at their usual prices.
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Featured image adapted from Singapore Food Agency (SFA) on Facebook.
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