Malaysian Eggs in Great Demand
MALAYSIA - Thailand and Indonesia have turned to Malaysia for egg supplies following the recent outbreak of bird flu in Asia. The resultant surge in demand for Malaysian eggs has prompted suppliers to contemplate raising egg prices.
29 January 2004
3 minute read
Meanwhile, egg prices in Singapore have already increased by about twenty per cent over the past month. With the current spate of bird flu outbreaks in Asia, demand for Malaysian eggs will continue to rise.
Market participants state that prices of eggs are usually higher during the Chinese New Year period. However this year, the shortfall of poultry feed prompted Malaysia's egg suppliers to start raising prices from December last year.
Mr Chen Yuhua, chairman of the Singapore Association of Egg Merchants, said that Malaysian suppliers have raised the prices of eggs by about two to three Singapore cents per egg over the last month.
Mr Chen added that he had heard rumours of Malaysian egg suppliers' intention to raise egg prices further. Mr Chen also said that the increase is likely to occur in the following week.
Nearly 70% of the eggs sold in Singapore come from egg farms in Malaysia, while local farms in Singapore supply the remaining 30%.
The bird flu crisis is likely to cause egg prices in Singapore to triple in the short run. The price of one egg is expected to increase to twenty Singapore cents (about US$0.11).
Source: eFeedLink - 29th January 2004
