Egg Price Surge... Last Year's Laying Hens' Net Profit Soared 7.6 Times in One Year

2021 Livestock Production Cost Survey Results

[Asia Economy Sejong=Reporter Son Seon-hee] Last year, the price of eggs soared, resulting in the net profit per laying hen increasing by 7.6 times within a year.

According to the "2021 Livestock Production Cost Survey Results" released by Statistics Korea on the 24th, the net profit per laying hen last year was 19,631 KRW, approximately 7.6 times the previous year's 2,590 KRW. This represents an increase of 17,041 KRW (658%) in net profit over one year.

This is attributed to the surge in egg prices last year. The annual farm gate price of eggs (based on 10 special eggs) rose by 62.5%, from 1,105 KRW in 2020 to 1,796 KRW in 2021. Meanwhile, during the same period, egg production costs increased by only 14.1%, from 949 KRW in 2020 to 1,083 KRW in 2021.

With increased meat consumption last year, net profits for Korean beef, pork, and broilers also rose. The net profit per Hanwoo beef cattle (raised for meat production) was 292,000 KRW, about five times higher than the previous year's 58,000 KRW. The net profit per fattening pig (raised for meat production) was 68,000 KRW, up 21,000 KRW (44.9%) from the previous year's 47,000 KRW.

The net profit per broiler was 65 KRW, a 69.9% increase from the previous year's 38 KRW. Although beef cattle recorded a net loss of 231,000 KRW per head, the deficit narrowed compared to the previous year's 574,000 KRW.

For dairy cows, the net profit per head was 2,434,000 KRW, down 8.5% from the previous year's 2,661,000 KRW. This is analyzed to be due to the rise in rearing costs (3.6%) outpacing total income (0.6%).