Egg imports from Azerbaijan are growing as prices in Russia stabilize
In the ongoing efforts to mitigate the sharp increase in egg prices, Russia has imported another sizable batch of eggs from Azerbaijan, totaling 18.63 tons or 306 thousand units, according to an announcement from the press service of the Rosselkhoznadzor on Saturday, January 13. With this recent shipment, Baku has contributed a cumulative total of 1.8 million eggs to the Russian market.
In addition to Azerbaijan, early January saw the commencement of egg imports from Turkey, with a reported 633.6 thousand pieces arriving in Russia. Twenty-one Turkish enterprises have been granted the right to export eggs to the Russian Federation. Furthermore, Belarus has significantly increased its egg supplies, importing 11.7 million eggs from January 1 to January 9, compared to 6.3 million during the same period last year.
In response to the escalating egg prices, the Russian Federation, as of January 1, 2024, implemented a six-month suspension of import duties, notably zeroing them. This measure is expected to facilitate the import of approximately 1.2 billion eggs and contribute to stabilizing the prevailing price dynamics.
Reflecting the impact of rising egg prices, the Ministry of Agriculture has observed a decrease in egg prices within the wholesale sector, with expectations that this trend will permeate the consumer network. As of November 2023, eggs in the Russian Federation had seen a price increase of 15.1%, a year-to-date rise of 35.5%, and an annual increase of 40.3%, prompting investigations by the Federal Antimonopoly Service (FAS) and the Prosecutor General's Office into pricing practices.
Dmitry Patrushev, the head of the Ministry of Agriculture, has previously stated that the surge in egg prices is expected to subside post-New Year. The government's measures, including the suspension of import duties, aim to restore stability to the egg market and provide relief to consumers in the coming months.