9 August 2023

In the first seven months of 2023, Ukrainian exports of shell eggs in natural terms have already exceeded the figure for the entire year of 2022.

According to the customs statistics of Ukraine, in July, Ukrainian export of shell eggs decreased compared to June (5 thousand tons) and amounted to 4.3 thousand tons with a total value of $4.6 million ($5.8 million in June). We should also note the decrease in the average export price compared to the previous month.

In general, during January-July 2023, Ukrainian companies exported 30,000 tons of shell eggs with a total value of almost $40 million and 4,900 tons of egg products worth $20.7 million.

For comparison, for the whole of 2022, Ukraine exported 27,000 tons of shell eggs for $42 million and 5,100 tons of egg products for $23 million. The export of shell eggs in tons for the first seven months of 2023 has already exceeded the figure for the whole 2022, but the figures of 2017-2020 are still quite far away.

With the increase in egg production by Ukrainian households (which traditionally occurs in the spring and summer), Ukrainian industrial producers are trying to increase exports, thus trying to support prices on the domestic market.

At the same time, already at the beginning of August, there was a significant decrease in retail prices for eggs in Ukraine - in some retail chains, the decrease reached 20%.

In our opinion, this decrease is short-term, since the seasonal increase in egg prices in Ukraine is expected already in the fall. Given the closure of the grain corridor for the export of Ukrainian agricultural products, domestic prices for grain and oilseeds in Ukraine remain relatively low, which should contribute to additional profitability of meat and egg producers.

We expect that 2023 could be the most successful year for industrial egg producers in a decade.

Our analysis of the financial report of one of the largest Ukrainian producers of eggs and egg products - the Ovostar company - is provided at the link.