According to Forbes.com, the median cost of a dozen eggs in the U.S. remains at $4.25– over twice what it was a year ago. While inflation in 2022 has contributed somewhat, companies say the real reason egg costs remain high is due to the Avian Influenza outbreak, causing as many as 58 million chickens to be affected.
However, Dee Laninga with the nonprofit group Farm Action says after reviewing US Department of Agriculture data, they find that there’s not been a significant drop in egg supplies.
“We saw nothing that justified these price hikes, they are up 138 percent since last year, that’s more than double. Meanwhile, companies that haven’t reported a single case of avian flu are raking in record profits.”
Sarah Carden, also with Farm Action, says a lack of competition is the real culprit when it comes to high egg prices at grocery stores.
“But instead, what we see is all of them raising their prices, which just leads to this conclusion of collusion.”
Farm Action cites that Cal-Maine foods controls 20% of the retail egg market. They reported quarterly sales up 110% and gross profits up more than 600% over the same quarter in the prior fiscal year, according to a December 2022 filing with the Securities and Exchange Commission.
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