Egg prices soar despite declining wholesale rates, no flu crisis
Egg prices in the USA have reached record highs despite a drop in wholesale prices and no recent outbreaks of bird flu, reports Sky News. On average, Americans are paying $6.23 for a dozen eggs. However, in some areas, prices are reaching up to $1 per egg.
Egg prices in the United States have hit record levels, even as wholesale prices have started to decline and no new bird flu outbreaks have been noted. The average price of a dozen eggs in March was $6.23—approximately twice the long-term average.
Record egg prices in the USA due to bird flu
In some regions, such as New York and New Jersey, prices have exceeded even $12 per dozen, equating to $1 per egg. Restaurants like Denny's have introduced additional charges for eggs on their menus. CBC News, in its report on the matter, quotes a restaurant owner who claims that it feels like her customers are eating gold.
Thus, the prices of eggs in the United States have risen by 75% over the last twelve months compared to other popular food items like poultry, orange juice, beef, bacon, and bread.
One of the main factors driving up prices is bird flu. Although no new cases have been reported for two weeks, egg production still hasn't returned to normal. Considering outbreaks from October of the previous year to March 2023, the American egg market suffered losses in the laying hen population of approximately 54 million, according to the Polish National Chamber of Poultry and Feed Producers.
Egg prices in the USA. Improvement won't come quickly
The rise in egg prices in the USA has led to increased egg smuggling from Mexico, where prices are significantly lower. The United States has also turned to European countries, including Poland, to boost egg exports to meet growing demand. However, representatives of the National Chamber of Poultry and Feed Producers emphasized that transporting eggs from Poland to the USA can be very costly.
As the "New York Post" points out, Americans will not feel relief in egg prices in the foreseeable future. Easter brings additional demand for approximately 180 million eggs. This, combined with trade tensions that originated under President Donald Trump, may keep prices high for a long time.
The U.S. Department of Justice has launched an investigation into possible collusion by egg producers to artificially inflate prices. The largest egg producer in the USA, Cal-Maine, is cooperating with authorities on this matter.
