A state-funded think tank says that prices of eggs in South Korea may jump by up to 68 percent between March and May due to an expected drop in supply.

The Korea Rural Economic Institute (KREI) presented the projection on Sunday, citing that egg production is expected to fall 17 percent on-year during the three-month period.

The KREI said that the average number of chickens on farms is expected to slip by eight-point-seven percent on-year to 66-point-one million during the cited period.

The fall is expected to lead to a drop in the daily egg production by 17-point-one percent on-year to 37-point-six million eggs.

Currently, the consumer price for a 30-egg bundle stands at around 76-hundred won amid the supply shortage due to the outbreak of avian influenza.