Trump's ‘egg price' claim turns real as prices drop across US
The latest CPI report comes after five consecutive months of soaring egg prices, driven by a severe avian flu outbreak that forced the mass culling of egg-laying hens. While April brought some relief, egg prices remain well above pre-outbreak levels. In April, a dozen large eggs still cost 79 per cent more than the same time last year, when they averaged USD 2.86.The recent decrease in egg prices comes amid easing pressures from avian influenza, which has devastated egg-laying flocks since early 2022, killing over 169 million birds. Outbreaks have declined from 59 in February to just three in April, allowing some stability in the egg supply.advertisementDavid L. Ortega, a food economics professor at Michigan State University, expects prices to continue falling through May and June due to seasonal declines in demand post-Easter and fewer bird flu outbreaks.However, risks remain. Even a single outbreak at a large-scale facility, such as those in Ohio and South Dakota last month that impacted over 927,000 hens, can disrupt supply. Rebuilding flocks is a lengthy process, taking up to a year.In response to the crisis, the US government has taken several steps. The USDA announced a USD 1 billion investment in February to boost farm biosecurity. Egg imports have also surged, rising 77.5 per cent in the first quarter compared to the same period last year, with supplies coming from countries like South Korea, Brazil, and Turkey.Meanwhile, the Department of Justice is investigating Cal-Maine Foods—the nation's largest egg producer, which accounts for 20 per cent of the US market—over potential antitrust issues. The company, based in Ridgeland, Mississippi, reported a tripling of its net income to USD 508.5 million in the quarter ending March 1.(With input from the Associated Press)
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