The Skyrocketing Price Of Eggs In Ukraine Is Raising Questions
The war between Russia and Ukraine sparked a global food shortage, reports Brookings, due to Ukrainian ports being blocked by Russian ships. Only about a fifth of Ukraine's crops can be exported via other methods, which means nearly 80% of Ukraine's exports are stuck in the country. On average, Ukraine typically produces 69.82 million tons of cereal, as well as nearly half of the world's sunflower seed oil. Due to the blockage, the entire world faced food shortages for products produced in Ukraine. Per the United Nations (UN), the blockage was ended thanks to The Black Sea Grain Initiative, which allowed Ukraine to begin exporting foods again as of August. However, Russia has now suspended this agreement.
According to BBC, Ukrainian citizens have been facing high price hikes at the highest rate since the 1970s. Energy costs have risen nearly 50%, while natural gas has almost doubled in price. Food products have also increased in cost, and UN Women reports that Ukrainian mothers often sacrifice their own food to provide more for their children. As food prices continue to increase, some are concerned that the cost of food in Ukraine is unfairly climbing.
The war has caused global food shortages and price hikes
The price of eggs in Ukraine has reached a record high, according to UkrAgroConsult. The site reports that Ukraine lost nearly ⅕ of its egg production capacity due to the war, causing prices for the remaining eggs to increase in order to make up for elevated electricity and natural gas costs. At the beginning of the summer, eggs cost around 1.8 hryvnias (around $0.05). Now in some places, a single egg could cost as much as 8 hryvnias ($0.22).
Now, the Antimonopoly Committee of Ukraine (AMCU) will be investigating whether the price hike was fully justified (via The New Voice of Ukraine). Though the war may have had an impact on costs and production, the steep price hikes may have taken advantage of the situation. The cost of chicken feed has reportedly remained low, and only one producer submitted a report of a deceased chicken population. The AMCU has the power to protect consumer rights through equality and promote fair competition, according to its website.