October 29, 2007

High feed prices caused 30-percent price increase in Taiwan's eggs

A sharp rise in chicken feed prices has led to a 30-percent rise in egg prices, according to Taiwan's Council of Agriculture (COA).

Huang Ying-hao, director of the Animal Industry Department under the COA, said that soaring international corn prices since the fourth quarter of last year, have caused a spike in corn prices.

As a result, the production cost per catty of eggs has surged to a high of NT$21 (US$0.647) to NT$23 (US$0.709) from NT$15 (US$0.462) late last year.

Meanwhile seasonal factors caused a drop in daily egg supply, resulting in egg retail prices soaring to NT$34 (US$1.048) per catty from NT$25 (US$0.770) just two weeks ago.