Egg Prices Still Soaring After Seol
Few Hundred Won Difference for 30 Eggs at Large Mart, Traditional Market, Convenience Store
Premium Eggs in Regular Delivery Maintain Price
Price Gap Narrows with Regular Eggs, Attracting New Customers
[Asia Economy Reporter Lim Chun-han] Although the Lunar New Year holiday has passed, prices remain in a state of emergency. Even imported eggs have been brought in, but egg prices continue to soar without end. I tried to find cheaper eggs by going around in person, but since the difference is only a few hundred won, it was meaningless. As a result, more people are choosing to eat organic eggs rather than expensive regular eggs.
◆Only a few hundred won difference even after searching the whole neighborhood= As of the 15th, egg prices, which skyrocketed ahead of the Lunar New Year, remain unchanged. I checked not only large supermarkets but also traditional markets and convenience stores, but there was no significant difference. At Emart Guro Branch in Seoul, a pack of 30 regular eggs was being sold for 7,480 won. Housewives standing in front of the egg section were hesitating, picking up and putting down the eggs. Some eventually left without putting eggs in their carts.
I visited a food material mart in Gwanak-gu, known for cheap groceries. For 30 eggs, large eggs were 7,900 won and special eggs were 7,500 won, not much different from large supermarkets. Expecting traditional markets not to disappoint, I headed to Gwanak Sinsa Market. It was slightly cheaper but only by a few hundred won. Large eggs were sold for 8,500 won, special eggs for 8,000 won, and regular eggs for 7,000 won per 30 eggs. The effort to find cheaper eggs was not rewarding.
Finally, on the way home, I stopped by a convenience store for a cup of coffee. A pack of 10 regular eggs was on sale for 2,400 won, which converts to 7,200 won for 30 eggs, cheaper than large supermarkets. Although the difference was only a few hundred won, the price order for regular eggs was traditional market - convenience store - large supermarket, and for special and large eggs, it was food material mart - traditional market.
According to the Korea Agro-Fisheries & Food Trade Corporation (aT) Agricultural Product Distribution Information, as of the 15th, the average price of 30 special eggs was 7,821 won, up 4.6% from a week ago. Compared to a month ago at 6,537 won, it increased by 19.6%. Considering that at the beginning of last year, 30 regular eggs were priced between 3,000 and 4,000 won, and special eggs were in the 5,000 won range, prices have risen by more than 50%.
◆Expensive but cheaper egg subscriptions= As egg prices soar, more people are opting to eat organic eggs instead. Premium eggs delivered regularly via subscription were already expensive before the price hike, exceeding 10,000 won for 30 eggs. However, as egg prices rose, the price gap between regular and organic eggs has narrowed significantly. These companies have not raised prices despite the recent surge in egg prices, maintaining their rates, which has made them popular among housewives who say, "It's expensive but cheaper."
An industry insider told Asia Economy on the 16th, "As regular eggs become expensive, new customers willing to pay a few thousand won more for better eggs are increasing. Although there was a recent egg price shock, we did not reflect it in our prices. We are trying to maintain prices as much as possible unless it is an unavoidable situation."
Subscription delivery service providers are not raising prices. Korea Yakult It's On fresh eggs are sold at 3,990 won for 10 eggs, Pofree at 5,800 won for 10 eggs, Guppe offers 20,400 won for 30 eggs, and Monthly Egg sells 15,900 won for 30 eggs. Korea Yakult It's On raised the price by 1,000 won to 4,990 won for one-time delivery, but maintains the original price for existing and new subscription customers.
Kim Kyung-hee (pseudonym), a member of a mom cafe, said, "I used to think eggs were expensive when ordering via subscription, but these days, whether I order or go around looking, the prices are similar. Even after this egg price shock ends, I think I will continue to use the subscription service."
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