Pandemic, logistics problem, high inflation, and now the bird flu has hit the egg. The increase in eggs, which is one of the main food products, in the last two years has deeply shaken the budgets of families with children in the middle and lower income groups. Here is the latest situation about the egg hike…
Bird flu that started in the US in February last year from the epidemic Millions of chickens were affected.
While nearly 60 million birds were culled in 47 states, the number of laying hens affected by the epidemic exceeded 43 million.
EGG STOCK IS DANGEROUS
U.S. egg stocks were down 29 percent last month from early 2022, as egg supply fell sharply due to recurrent outbreaks.
Wholesale egg prices rose as the limited supply combined with increased demand during the holiday season, which spanned the months of November-December.
Also, lower-than-normal egg stocks drove prices to record highs during the Christmas week.
210 PERCENT A YEAR INCREASE IN EGG PRICES
During the Christmas week in December last year, shell egg prices increased by 267 percent compared to the beginning of 2022 and by 210 percent compared to the same period of the previous year.
The price of a dozen wholesale shell eggs stood at around $1.5 at the beginning of last year, but rose above $5 at the end of the year.
In the last week of last year, egg prices decreased slightly as stocks started to increase.
THE REASON FOR INCREASED EGG PRICES AVID FLU
According to the US Centers for Disease Control and Prevention (CDC), the spread of the avian flu virus, which started last year and has already affected nearly 60 million birds, was the main reason for the high egg prices.
Also, like many foods, eggs have had their share of rising prices in the US.
According to the inflation data announced by the US Department of Labor, in December 2022, the price of eggs increased by 11.1 percent on a monthly basis and by 59.9 percent on an annual basis.
MARKETS ARE APPEAL DUE TO HIGH PRICES
Egg prices vary according to the types in the markets. In some grocery stores, a dozen organic eggs cost close to $12, while non-organic eggs cost around $7.
On the other hand, some grocery stores apologize to their customers for the limited inventory, stating in the notes they hung on the egg shelves that the prices of eggs have increased due to the increase in the prices of the suppliers.
Egg prices are expected to decline due to the stabilization of demand, the increase in stocks and the moderate course of inflation.