HPAI outbreak devastated egg industry in South Korea
July 19, 2021
South Korea was hit hard by a spate of highly pathogenic avian influenza (HPAI) outbreaks that began last November and devastated the local egg industry, and while it has suffered no additional detections since April, the country’s resulting egg shortage is expected to persist until early 2022.
That has sparked increased demand in the market and opportunity for U.S. shell eggs, processed egg products, and pre-cooked egg products to fill the supply gap.
In January, the South Korean government implemented a zero-tariff policy for 50,000 tons of eggs and egg products through June 30 to help stabilize soaring prices and to boost supply following the widespread culling of about 25 percent of all South Korean layer hens (roughly 18 million) due to the outbreaks.
Then, on June 22, in the wake of continued high local egg prices, the Ministry of Strategy and Finance implemented an additional 36,000 metric tons temporary tariff rate quota (TRQ) for eggs and egg products through Dec. 31.
Read more in the July 19 edition of MondayLine.