Reducing egg content in bakery to optimize cost and offset the increasingly volatile price of eggs
Kerry has released some research on the increasing prices of eggs and what that means for the bakery industry.
The humanitarian crisis in Ukraine, soaring energy prices and the ongoing pandemic has led to inflationary pressures and meant that the economic outlook for Europe has become very uncertain. At the start of the year, experts predicted that egg prices would have stabilized throughout 2022. However, the ongoing Russia and Ukraine conflict has generated one of the worst energy crisis and as a result, raw material prices as well as energy costs needed for egg production have dramatically increased, resulting in European egg prices rising by as much as 31% per 100kg of eggs YoY, 18.4% vs last month and 6.2% vs last week (week 12, 2022)