Thai egg industry cashes in on rising overseas demand
Thailand’s egg export industry recently experienced a surge in performance, which the Department of Livestock puts down to several factors.
As per the latest data, Thailand boasts a population of 52.3 million laying hens, which collectively generate approximately 43.4 million eggs daily.
The Department of Livestock, meanwhile, has been coming up with export strategies to manage this egg surplus more effectively.
According to news sources, the first eight months of this year saw the export of 310.63 million eggs worth 1.38 billion baht. This represents a 100.1% increase in quantity and a 135.62% increase in value compared to last year. The biggest buyers of Thai eggs are Singapore (70%), Hong Kong (16%) and Taiwan (8%).
Separately, the production cost per egg in the second and third quarters of this year averaged 3.72 baht and 3.67 baht, respectively, up 7.94% from 3.40 baht per egg in the third quarter of last year.
This increase in the production cost has been put down to a surge in the price of water and electricity, animal breeds, feed as well as vaccines and disease prevention.
Efforts are being made to stabilise the price of eggs by encouraging farmers to release their produce early and explore export opportunities.
Approximately 78 million eggs have been designated for export between September and December this year, including an export target of 39 million eggs for October alone.
Meanwhile, the recent drop in egg prices has been put down to some companies buying eggs at export prices and then reselling them locally claiming they are from Myanmar. These eggs are sold for as little as 2.50 baht per egg, far lower than the 4-baht price tag set by Thai farms.
This influx of rebranded eggs has resulted in an oversupply in the market, with consumers generally shifting to cheaper options.
