Australian egg farmers have sent the first shipment of eggs to South Korea, to help ease a major shortage caused by an Avian influenza outbreak.
Approximately 30 million birds have been culled to stem the spread of the disease, causing a shortfall of around 15 million dozen eggs each week.
Prices of eggs and other poultry products have soared as a result, with retail egg prices rising by around 21.5 per cent to $2.50 (2,207 KRW) for 10 eggs.
But at the farm gate, farmers have raised the price of eggs they are selling by 50 per cent to $1.75 (1,551 KRW).
The outbreak is the first in seven months, caused by a highly contagious new strain, H5N6.
Huge shipments of white eggs are already arriving from the USA, but Koreans have a preference for brown eggs, and that is where Australian farmers are stepping in.
It is estimated around $20 million worth of eggs will be sent to South Korea, aided by a recently inked export agreement approved by South Korea, which permits the sale of Australian eggs.
Industry body, the Australian Egg Corporation Limited managing director Rowan McMonnies said the urgency of the situation had help negotiations between the Australian Department of Agriculture and Water Resources and the South Korean government.
“South Koreans are some of the biggest egg consumers in the world,” Mr McMonnies said.
In comparison, Australians east around 227 eggs per person annually, the British consume 182 and South African eat 150 each per year.”
All tariffs on imported eggs have been suspended until at least 30 June 2017.
The first shipment of eggs left Australia by air last week, and further shipments will be sent by sea in the coming months.
Mr McMonnies said the export of eggs to South Korea would not impact domestic supplies.
“The Australian egg market is very large and Australian egg farmers are always seeking to balance supply and demand.
“If anything this represents an opportunity for the expansion of the industry.”