Seven Seas Export is pleased to hear that the government of South Korea has officially announced the extension of 0% tariffs on imported eggs. Since the Avian Influenza outbreak in November of last year, domestic egg prices have risen to unreasonable levels for domestic consumers. Another outbreak in June has stalled efforts for domestic egg farmers to recover from the initial influenza.
This extension will allow Seven Seas Export to continue exporting egg products to South Korea and help alleviate the egg crisis through the end of the year. We fully expect sales to pick up now that there is no uncertainty surrounding the tariffs.