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Egg Price Jump Ahead

by 5m Editor
13 September 2010, at 9:43am

AUSTRALIA - Egg prices are tipped to crack new highs.

Egg prices could rise by as much as 50 cents a dozen over the next three months, as poultry farmers are hit by rising costs.

Brisbane Times reports that global wheat prices, which nearly doubled last month, combined with the impact of one of the worst locust plagues in 40 years in Australia are lifting the cost of grain used by egg farmers for their egg-laying birds.

Brian Ahmed, president of the egg group at the Victorian Farmers Federation, said there has already been a 20 per cent increase in the retail cost of eggs nationwide over the past three months because of the jump in wheat costs. Currently, a standard dozen of 70-gram eggs costs between A$2.80 to $6, depending on their grade and quality.

"But there's a major concern about the locust plague in the grain industry," he said.