UniCredit Bank: Egg crisis hits Europe, prices to continue surging

Slovakia is theoretically self-sufficient in egg production

(Source: Reuters)

Following what has been dubbed as a butter crisis, involving the product’s scarcity on the market and subsequent high prices, an egg crisis appears to have arisen recently in Slovakia and the EU as a whole, with the price of eggs likely to continue surging in the next few months, reads a UniCredit Bank analysis.

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The price of eggs in the EU rose by 47.5 percent year-on-year in October in the wake of the finopril scandal in the Netherlands, which has been the biggest egg producer in Europe long term, with 5.5 billion eggs annually. While the price of eggs was up by 37 percent y-o-y in Slovakia in October, the spike in the neighbouring Czech Republic was more pronounced, amounting to 42 percent.

Read also: Fipronil-tainted food found in Dutch bakery in eastern Slovakia Read more 

In theory, Slovakia is self-sufficient in egg production, but the lack of eggs on the market and foreign contracts with domestic producers, as well as the redirection of Czech and Polish eggs from Slovakia to western markets in recent months, have created upward pressure on prices in Slovakia as well.

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