UK eggs might be able to regain a couple of pence following the EU referendum result and the effect that has had on the value of the pound, according the latest egg and poultry bulletin published by the National Farmers Union (NFU).
“After the referendum results the £ has lost value against most currencies and eggs from the continent are expected to cost more when wholesalers come to reorder,” stated the bulletin, which was published on Tuesday this week.
“This just might enable UK eggs to regain a couple of pence, which is critical at the (current) crippling low levels.”
The same bulletin report also suggested that the weaker £ should make imports of poultry meat into the UK less attractive.
“With the last week of Ramadan (and the fasting that is part of the religious festival), a good week in terms of demand is anticipated,” it is added. “Prices have been flat but it is hoped that they will see a much needed rise with the ending of Ramadan and potentially less pressure from imports.
“In turn, it is hoped and anticipated that wholesale price rises are passed onto NFU members immediately.”