Korea looks to imported eggs to 'Thai over' market during domestic production decline

Korean retailers are increasingly turning to imported eggs from Thailand as domestic egg production declines and the country grapples with "eggflation" — a pronounced surge in egg prices.

Emart, a hypermarket chain under the retail giant Shinsegae, is preparing to sell Thailand-origin eggs starting from mid-June, according to industry sources on Wednesday. The retailer is likely to source them from a shipment the government plans to import later this month to stabilize egg  prices.

It will mark the first time Emart has sold imported eggs.

“Emart’s decision to sell imported eggs for the first time underscores how severe the current egg supply shortage and price surge have become,” a retail industry source said.

The trend is expected to spread across the retail sector.

“Lotte Mart is mulling options to sell Thai eggs in addition to eggs imported from the United States,” a representative from the retailer said.

In April, discount store chain Homeplus had sold packs of 30 fresh Thai eggs for 5,890 won ($3.90), about 70 to 80 percent of the price of comparable domestic eggs.

Retailers’ growing reliance on imported eggs stems from declining domestic supply and subsequent rising prices.

Nationwide daily egg production averaged 45.79 million eggs last month, down 3.6 percent from a year earlier, according to the Korea Rural Economic Institute. The agency cited outbreaks of highly pathogenic avian influenza during the winter as a reason for the decline.

Budget-priced eggs have been reportedly selling out faster than other varieties at hypermarkets.

Falling production has pushed prices higher. The national average retail price of a 30-egg pack of large eggs recently reached 7,412 won, up 8.6 percent from three months earlier, according to the Korea Agro-Fisheries and Food Trade Corporation (aT). Organic and antibiotic-free eggs often cost well over 10,000 won per 30-egg pack.

“Eggs had long been a staple ingredient for family meals without any financial pressure,” said Park, an office worker. “Now, I find myself hesitating before putting them in the cart,”

Kim, a gimbap (seaweed rice roll) restaurant owner in northern Seoul, recently raised the price of their vegetable gimbap from 3,500 won to 4,000 won. Eggs are a key ingredient in gimbap.

“The price of the antibiotic-free jumbo eggs, which I have normally used, has climbed above 9,500 won even at wholesale food suppliers,” Kim said. “It left me with little choice but to increase prices.”

Imported eggs have met with strong consumer demand.

Homeplus sold out its entire inventory of more than 46,000 trays of Thai eggs. Lotte Super, a neighborhood supermarket chain managed by Lotte Group, has sold out its entire 9,300 trays of fresh U.S. eggs. Each tray — with 30 eggs — was priced at 5,990 won.

Still, some industry observers caution that imports may provide only temporary relief.

“Korea consumes about 50 million eggs a day, while import volumes remain relatively limited,” another retail industry source said. “Ultimately, restoring production capacity in the domestic laying-hen industry is the most fundamental solution." 

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

BY IM SUN-YOUNG [lee.soojung1@joongang.co.kr]