Poultry and egg prices continue to rise – consumers can expect permanently high prices
The price of poultry meat continues to rise in Hungary, despite the government’s margin stop measures still in effect – revealed by RTL News. According to the latest data from the Central Statistical Office, chicken breast fillet is nearly 19 percent more expensive than a year ago, the price of chicken legs has increased by 11 percent, and that of whole chickens by 8 percent.
Poultry is the most popular type of meat on the domestic market, its consumption exceeds that of pork by about 25 percent, so the price increase affects a wide range of households. According to the Institute of Agricultural Economics (AKI), prices continued to rise in the 39th week, while the price of eggs also jumped: on average, they cost 85 forints per piece in the Debrecen consumer market, which represented an increase of nearly 6 percent in one week.
Bird flu and strong demand are fueling prices
“The effect of the bird flu wave that occurred in the spring can still be felt in poultry prices,” said Csaba Héjja, agricultural strategy analyst at MBH Bank. According to the expert, supply on the EU market remains tight, as several member states have suffered significant stock losses due to the epidemic. This drives prices up, as producers sell where they get more for their goods.
Csaba Héjja pointed out that there are currently about 10 million fewer laying hens in the European Union than would be necessary to meet global demand. This is the equivalent of one and a half to two months of Hungarian egg consumption, which does not mean a shortage, but creates a strong demand market.
Prices may remain under pressure until spring
According to agricultural economist György Raskó, poultry meat prices may remain at their current high level for months, while egg prices may rise by another 4–5 percent in the autumn-winter period. The reason for this is that the productivity of hens decreases due to shorter days, which causes a narrowing of supply and new price pressure. “The price of eggs typically starts to rise in the months with poor light, and this trend may continue until spring,” he said.
Inflation is also fueled by rising food prices
Hungarian food prices have already increased above the EU average: in August, inflation was almost twice the EU average, to which the price increase of meat and egg products contributed significantly. According to analysts, permanently high price levels are expected in the coming months, and pressure on the poultry market may only ease in the spring season.
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