Investigation is Required As Egg Prices are Unreasonably High: US Farm Group Reports Posted on January 22, 2023 News By Akta Yadav 341 Views Egg Prices :- The high rise in the prices of eggs is a matter of concern for the year 2022 in the US. The Federal Trade Commission of the United States is to examine the rising price of eggs gouging from top egg companies. The huge price difference in eggs is a burden to the middle class US population. The suspicious raise in egg prices is to be investigated by the Trade Commission, for the reason that the people have to pay more for the household staple. US regulators, Farmers , Industry have often argued on the monopoly of prices of the agricultural products that drives the consumers, paying more for grocery items. In the recent years, US has also witnessed the skyrocketing increase in the prices of beef for almost a year. Egg Prices The latest spike in the prices of eggs is another matter of concern. The reports shows the high rise in egg prices up to 138% in last December, 2022. The price level increased to 4.25$ a dozen. Reasons behind the high egg prices The US Department of agriculture (USDA) records the high egg prices due to the outbreak of avian flu in US. But still, the egg companies managed to gain high profit on the sale of eggs last December. Among 58 million chickens and turkey have been killed by the avian Flu, that directly affects the supply of eggs in the United states. Cal-Marine Foods almost controls the 20% of eggs retail market. In the second quarter of the year, it has earned profit of more than 600% and made sales upto 110% due to high egg prices prevailing in the nation. Due to the prevalence of avian flu the company contracted the supply of eggs countrywide which lead to the high rise in egg prices driving consumers to pay more on the purchase of eggs from the market. Egg Prices US egg production in the first quarter of the year The egg production in US in the first quarter of the year has seen decline of 5% in the month of October, as compared to last year. The inventories were also down by 29% in December due to avian flu prevalence. Basel Musharbash, an attorney with Farm Action demands FTC to dig up the reasons, if consumers are being gouged by the High egg prices. Although, the FTC declined to make any comment on the request. The American Egg board, an egg marketing group also specified that the spike in Egg prices are subjected to many variable factors. Cal-Marine shares have also faced decline in their share price, after witnessing rise of almost 50% last year. For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true and top stories of the world.
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Egg Prices
The latest spike in the prices of eggs is another matter of concern. The reports shows the high rise in egg prices up to 138% in last December, 2022. The price level increased to 4.25$ a dozen.
Reasons behind the high egg prices
The US Department of agriculture (USDA) records the high egg prices due to the outbreak of avian flu in US. But still, the egg companies managed to gain high profit on the sale of eggs last December. Among 58 million chickens and turkey have been killed by the avian Flu, that directly affects the supply of eggs in the United states.
Cal-Marine Foods almost controls the 20% of eggs retail market. In the second quarter of the year, it has earned profit of more than 600% and made sales upto 110% due to high egg prices prevailing in the nation.
Due to the prevalence of avian flu the company contracted the supply of eggs countrywide which lead to the high rise in egg prices driving consumers to pay more on the purchase of eggs from the market.
Egg Prices
US egg production in the first quarter of the year
The egg production in US in the first quarter of the year has seen decline of 5% in the month of October, as compared to last year. The inventories were also down by 29% in December due to avian flu prevalence.
Basel Musharbash, an attorney with Farm Action demands FTC to dig up the reasons, if consumers are being gouged by the High egg prices.
Although, the FTC declined to make any comment on the request.
The American Egg board, an egg marketing group also specified that the spike in Egg prices are subjected to many variable factors. Cal-Marine shares have also faced decline in their share price, after witnessing rise of almost 50% last year.
For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true and top stories of the world.
