The average price of EU eggs in April-Sep ‘20 decreased by 7% against the previous average (Oct ‘19-Mar ‘20). The seasonal price decrease was driven by the placement of more egg-laying hens in Q2 2020, compared to the same period in the previous year. EU egg production is estimated to reach 7.1m tonnes in 2020, up 1% y-o-y. Higher outputs in the top EU egg-producing countries such as Poland, Germany, the Netherlands and Spain have driven overall production growth in the EU, pressurising EU egg prices.
Meanwhile, the six-month average price of US eggs increased by 3% in Apr-Sep ‘20, compared to the previous average (Oct ‘19-Mar ‘20), and 61% y-o-y, as US consumers rushed to stock up on staple foods (eggs, bread, milk) due to the coronavirus pandemic. US egg production is estimated to reach 8,033m dozen in 2020, down 3% y-o-y, as low layer hen inventories are expected to offset high layer rates. Also, higher feed prices are projected to discourage US egg production further. As a result, US egg production is estimated to decline by 3% y-o-y in Q1 2021.
From economical to political, all the factors impacting the egg market have been analysed to provide a market outlook for the next six months. Mintec’s market outlooks (schedule) provide insights on factors shaping the market dynamics of various commodities, providing the opportunity for market participants to stay ahead of factors that will impact procurement decisions. Please visit our Mintec Analytics platform to find out more.