United States have begun investigating the sharp increase in egg prices

Published 2023년 1월 25일

Tridge summary

Egg prices in the US have surged by over 100% in the past year, leading to concerns about price gouging and allegations of collusion among industry leaders. This is due to the impact of bird flu outbreaks and inflation, which have resulted in the culling of millions of chickens and increased production costs. However, trade groups and experts argue that the high prices are largely due to commodity markets and various other factors. Senator Jack Reed and Farm Action have called for an investigation into potential price manipulation, focusing on the top US egg producer, Cal-Maine Foods, which has seen significant sales growth due to the high prices.

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Original content

OMAHA, Nebraska (AP) — After egg prices have risen more than 100% in the past year in the United States, authorities have begun receiving requests to launch an investigation into possible price gouging. Democratic US Sen. Jack Reed sent a letter Tuesday asking the Federal Trade Commission to investigate whether producers have mismanaged egg prices. Farm Action, a farmer-led advocacy group, filed a similar request last week, alleging that “there appears to be a collusive system among industry leaders to turn inflationary conditions and an outbreak of bird flu into an opportunity for huge profits.” ”. The rise in egg prices has been blamed on millions of chickens being culled to contain the spread of bird flu and farmers having to offset rising costs caused by inflation. But even though about 43 million of the 58 million birds that have been culled in the past year to help control bird flu have been laying hens, overall flock size has only dropped 5-6% from to its normal size of ...

Source: Elperiodicodemexico