For anyone looking to make some easy money in Korea, get yourself some egg laying chickens that don’t have the bird flu virus because the price of eggs is skyrocketing:
A staff at an egg wholesale market in Jung-gu, Seoul, is counting stocks that are attracting desperate consumers. / Yonhap
The U.S. Department of Agriculture said Friday it is discussing with Korea ways for American egg producers to tap into the Korean market that is suffering from an egg shortage as a result of a massive outbreak of avian influenza.
Amid the rising egg prices due to the outbreak of bird flu that was detected in November, the department spokesperson said that the U.S. and Korea are “engaged in technical discussions to provide access for U.S. egg producers to the Korean liquid egg market.
“Imports from the U.S. could help limit escalating production costs for processed food manufacturers in Korea and shield consumers from soaring egg prices,” the official added.
He did not mention when the U.S. will start exporting eggs to Korea.
Starting Saturday, the Korean discount store chain Homeplus raised the retail price of 30 eggs by 9.6 percent to 7,990 won ($6.67) at its 142 stores. Homeplus has increased its egg prices five times in a month and retail prices have jumped 31.4 percent over the month.
The latest price hike by Homeplus came a day after its rival Emart increased the price of 30 eggs by 8.6 percent to 7,580 won.
Officials of the companies expect egg prices to go up again ahead of the Lunar New Year holiday later this month. [Korea Times]
You can read more at the link, but the Korean government has even dropped import tariffs against US eggs until June 30th.
That’s like $2.70 a dozen. I’ve been paying (in Canada) $2.45 for years. I feel sorry for Korean consumers, but it’s not really a whole lot for a dozen eggs.
“It is well known within agriculture that 25% to 30% of farm income is related to international trade and exports,” says Veronica Nigh, economist at American Farm Bureau Federation. “Our industry is significantly more dependent on international trade than other sectors of the economy.”
Due to falling prices for bulk commodities such as grains, feeds, and soybeans, farm income has taken a huge hit. That’s what makes the TPP such a hard loss since many, including Nigh, saw the deal as a way to bolster income for farmers and ranchers.
“Loss of competitive advantage for U.S. exports has been one of the biggest concerns about failing to move forward with the TPP, especially as it relates to China and the countries in the TPP,” says Jonathan Coppess, clinical assistant professor of agriculture law and policy at the University of Illinois. “At the very least, it raises difficult questions about the American policy on trade going forward and its reliability in those negotiations.”
Get rid of the Farm Bill subsidies for mega corporations that ship food overseas and let them work out their own trade deals. Wht should taxpayers support foreign farms, too? TPP is basically NAFTA but with China being allowed to wage unrestricted trade war on the USA.
Regardless of what some PR hack for the mega corporations tells you, American policy on trade has been disastrous and NEEDS to be altered drastically..
ChickenHead
7 years ago
It probably didn’t go over easy for the hard boiled Korean nationalists who were shell shocked the US finally hatched a plan to crack the Koran egg market.
Joseph Lee
7 years ago
How can we be certain that America won’t ship them eggs tainted with deadly disease? Fire up them candles, it’s protesting time.
That’s like $2.70 a dozen. I’ve been paying (in Canada) $2.45 for years. I feel sorry for Korean consumers, but it’s not really a whole lot for a dozen eggs.
US Agriculture desperately wants TPP
http://www.agriculture.com/markets/analysis/trump-trade-and-china-what-to-expect-in-2017
“It is well known within agriculture that 25% to 30% of farm income is related to international trade and exports,” says Veronica Nigh, economist at American Farm Bureau Federation. “Our industry is significantly more dependent on international trade than other sectors of the economy.”
Due to falling prices for bulk commodities such as grains, feeds, and soybeans, farm income has taken a huge hit. That’s what makes the TPP such a hard loss since many, including Nigh, saw the deal as a way to bolster income for farmers and ranchers.
“Loss of competitive advantage for U.S. exports has been one of the biggest concerns about failing to move forward with the TPP, especially as it relates to China and the countries in the TPP,” says Jonathan Coppess, clinical assistant professor of agriculture law and policy at the University of Illinois. “At the very least, it raises difficult questions about the American policy on trade going forward and its reliability in those negotiations.”
Get rid of the Farm Bill subsidies for mega corporations that ship food overseas and let them work out their own trade deals. Wht should taxpayers support foreign farms, too? TPP is basically NAFTA but with China being allowed to wage unrestricted trade war on the USA.
Regardless of what some PR hack for the mega corporations tells you, American policy on trade has been disastrous and NEEDS to be altered drastically..
It probably didn’t go over easy for the hard boiled Korean nationalists who were shell shocked the US finally hatched a plan to crack the Koran egg market.
How can we be certain that America won’t ship them eggs tainted with deadly disease? Fire up them candles, it’s protesting time.
Mad Chick Disease is all the rage in Hollywood…
Nice yolk there, ChickenHead.
“Mad Chick Disease”?
What? PMS was already taken?
Seemed to fit the current Golden Globe egg-tossing harpies