Prices for eggs have skyrocketed by more than 75 percent in the past year, and there is no solution in sight, according to a leading industry expert.
Data released by Stats NZ on Wednesday revealed that higher prices for fresh eggs were a significant factor in the 12.1 percent increase in food prices over the past year.
Between May of the previous year and May of this year, the average cost of a dozen eggs surged from $4.86 to $8.58, marking a staggering increase of 76.5 percent.
The sharp price hike was widely expected following the ban on battery (caged) farming, which led to a decrease in the number of hens laying eggs as farmers transitioned to higher-welfare systems.
However, other factors have contributed to the continued increase in prices.
Farmers also faced pressure from rising general inflation, transportation costs, and wages, but the biggest issue driving up prices was the cost of grain, Brooks highlighted.
Global grain supplies have been affected by Russia’s invasion of Ukraine, a major producer of corn, barley, and wheat.