Summary
Egg producers blame the bird flu outbreak for record-high prices, but critics argue dominant companies are exploiting supply shortages to boost profits.
With over 166 million birds culled and egg layers significantly reduced, prices surged from under $2 to nearly $5 per dozen.
Egg supply is down only 4% from last year, yet profits have surged. Cal-Maine Foods, supplying 20% of U.S. eggs, reported a $219 million profit in the last quarter, compared to just $1.2 million before the outbreak, a 18,150% increase.
Lawmakers and advocacy groups are calling for a government investigation into potential monopolistic practices.
I’m sure if you offered to buy an entire field of pumpkins they would work with you on the price. It’s sort of how trade works.
A 1000% markup is pretty fucked though. That’s the world we’re dealing with.