$5 a dozen: major egg companies may be using avian flu to hike US prices, new report finds
$5 a dozen: major egg companies may be using avian flu to hike US prices, new report finds
www.theguardian.com $5 a dozen: major egg companies may be using avian flu to hike US prices, new report finds
The highly concentrated egg market may be contributing to soaring consumer prices – and the spread of the virus, data shared exclusively with the Guardian shows
Summary
Major egg corporations may be using avian flu as a ruse to hike up prices, generating record profits while hurting American consumers, new research suggests.
- Egg prices soared to nearly $5 a dozen, rising 157% since before the avian flu outbreak, despite only a 9% drop in laying hens.
- Cal-Maine, controlling 20% of the US market, saw a sevenfold profit increase in 2023 compared to 2021.
- Over 166 million poultry have been culled, but critics say consolidation and slow flock replacement may inflate prices beyond the virus’s 12-24% direct cost.
Lawmakers urge investigations, while the Trump administration plans vaccines, reduced culling, and a $1bn avian flu fund to help stabilize costs.