UK egg prices are bouncing back as demand surges among health-conscious Brits.
Wholesale egg prices fell by almost 30% from January to October 2016, after increased industry investment boosted productivity. From Q1 to Q3 2016, UK packing stations produced 21.6 million cases of eggs, an increase of 4% year on year.
But prices have been rising again since November 2016, driven by an increase in domestic consumption, says Mintec. “In October, UK egg sales increased 9% year on year, accounting for an extra 40 million sold eggs, mostly attributed to more eggs being used as part of a healthy diet,” it adds. UK egg wholesale prices reached £1.09 GMB/kg at the end of December - up 5.8% from the low of £1.03 at the end of October.
EU egg prices are rising even faster - up 16% since November as a result of strong demand and lower production. Outbreaks of bird flu in Europe at the end of last year have resulted in lower egg layer numbers, which is expected to drive an 8% year-on-year drop in EU egg production in Q1 2017.
Demand for eggs is expected to continue rising in 2017, according to the British Egg Industry Council, which is shelling out another £1m on a celebrity-led campaign to highlight the benefits of eggs.
“The impact of both celebrities and health experts recommending eggs as part of a healthy diet has certainly played an important part in helping to increase the number of eggs eaten in the UK,” says Andrew Joret, British Egg Industry Council chairman.
“The FSA’s anticipated recommendation that pregnant women, babies and older people can enjoy runny eggs once more, as long as they are British Lion, suggests that the egg industry should look ahead to 2017 with a great deal of optimism and excitement too.”
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