Japan reported its first bird flu outbreak of the season at a poultry farm earlier this week, raising concerns that egg prices could rise further.

Egg prices are coming close to a record high, with a further spike possible if infections spread and egg supplies decrease as a result.

The first case of highly pathogenic avian influenza this season was confirmed Wednesday at a chicken farm in the town of Shiraoi in Hokkaido Prefecture. About 459,000 laying hens at the farm will be culled to prevent further infections.