Egg producers blame the ongoing bird flu outbreak for driving prices up to record highs. But some believe giant companies are taking advantage of their market dominance to profit handsomely at the expense of egg buyers.

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.

  • frog_brawler@lemmy.world
    3·
    3 hours ago

    It wouldn’t surprise me if they were increasing prices not to take profits and keep them, but to increase profits and purchase politicians. You know… exactly like what’s been happening with this most recent “inflation,” we’ve had.