Brazil: Chicken egg price rises more than 20% in 12 months and has the highest increase in a decade

The price of chicken eggs had the highest increase in a decade in Brazil, rising more than 20% in the last 12 months. This increase is seven times greater than the country's official inflation, which is currently around 3%. Food is considered a joker option on the menu of Brazilians due to its versatility, but the price increase is weighing on consumers' pockets. According to a survey by the IBGE (Brazilian Institute of Geography and Statistics), the price of chicken eggs rose by around 23% in one year. Meanwhile, meat and chicken became cheaper in the same period, with reductions of approximately 6.73% and 3.94%, respectively. The president of a cooperative, Irineo da Costa Rodrigues explained that producers have reduced egg production due to the increase in the cost of feed. At the same time, exports grew, due to cases of avian flu in some countries. "Brazil, therefore, producing less and starting to export, this meant that supply and demand became unbalanced. There is a smaller ...