Price-gouging investigations are being requested in response to rising egg costs. How to save money when buying eggs.
It’s all too familiar to us that egg prices have more than doubled over the past year. Egg prices have reached as high as $8.99-$9.99 per dozen organic eggs. There are calls for a probe into alleged price gouging. Government data reports, “The national average retail price of a dozen eggs hit $4.25 in December, up from $1.79 a year earlier.”
The increase in egg prices has been blamed on the slaughter of millions of hens to curb the spread of avian flu. with farmers raising prices to adapt for inflation driving up their costs.
Experts claim the avian flu outbreak, combined with the soaring cost of fuel, feed, labor, and packaging, is the actual explanation for the price increases. Trade groups argue egg costs are mostly influenced by commodity markets.
U.S. Senator Jack Reed requested on Tuesday that the Federal Trade Commission investigate whether egg manufacturers unfairly influenced egg pricing. “At a time when food prices are high and many Americans are struggling to afford their groceries, we must examine the industry’s role in perpetuating high prices and hold those responsible accountable for their actions,” Reed, a Rhode Island Democrat, said in his letter to the FTC.
“Consumers are used to seeing some volatility in the egg pricing market, but the current price spike in the industry’s favor warrants careful scrutiny. Independent federal watchdogs should look at the facts and follow the evidence to ensure consumers are treated fairly,” said Senator Reed.
Despite the fact that approximately forty-three million of the fifty-eight million birds slaughtered this past year to help control bird flu were egg-laying chickens, the total flock size has only been reduced by 5% to 6% from its regular level of about 320 million hens.
Cal-Maine Foods, the largest egg producer in the United States, was specifically called out by both U.S. Senator Jack Reed and the Farm Action group because it reported last month that its quarterly sales had increased 110% to $801.7 million due to record egg prices, resulting in a $198.6 million profit, up from $1.1 million the previous year.
As a consumer what can you do to save money when buying eggs? There’s no nutritional difference between brown and white eggs. Brown eggs may be priced higher because of marketing that says brown eggs are better. If the white eggs are cheaper, it is a better alternative. If you see a sale buy a few cartons with proper storage, eggs typically stay fresh 3—5 weeks past the pack date. Eggs can also be frozen. You need to cook them first then freeze them. It is recommended to scramble first then freeze for better taste and texture that hardboiled or sunny side up style. Powdered eggs cost less, and they are a great staple to keep in the kitchen in case you run out and can’t get to the store.
Eating eggs every day? Consider cutting back with a high protein alternative like turkey sausages on top of a muffin and adding avocado for a healthy breakfast. Try eating one egg instead of two and add a high protein such as a one egg omelet with cheese for added protein. There are egg substitutes on the market that taste just like eggs.
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