Does anybody else have to decide this month to either pay your rent or buy a dozen eggs?
The price of eggs has skyrocketed since this time last year, in some regions the price has tripled.
According to the U.S. Department of Agriculture, the average retail price for a dozen large eggs in California is $7.37. Last year at this time it was just $2.35 a year ago. And believe it or not, people are buying those expensive eggs like they were buying toilet paper during the pandemic. Some people are paying $1 per egg.
So what is the reason for this extravagant price? It’s not just as easy as saying inflation.
“Prices reflect several factors,” Emily Metz, President & CEO of the American Egg Board told the press. Metz added that egg farmers have also had to contend with the nasty bird flu. Some experts indicate that it is the deadliest avian flu outbreak in history.
“Once one bird gets the flu, they all get taken out in short order,” said Michael Swanson, a Wells Fargo economist.
Another culprit in these high prices is likely to price gouging.
Last week, Farm Action, sent a letter to the FTC asking for an investigation into the egg industry. The letter insinuates that the real reason for the price increases is the industry leaders themselves wanting huge profits.
But there is another culprit that might be responsible for price hikes…egg smuggling.
The U.S. Customs and Border Protection is reporting a 108% increase in egg products and poultry being seized at ports of entry.
Some customers have decided just not to buy expensive eggs. Jessica Martin, a 34-year-old mom in Montana, has just refused to pay more than $4 for a dozen eggs. Her grocery store doesn’t sell any for less than $5.29, so she is going eggless.
What can we do? Here is one answer, buy them in bulk and freeze them. Apparently, they are fine when thawed.