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Egg Prices Surge Amid Bird Flu Outbreak and High Demand
Dive Brief:
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Egg prices are on the rise due to a bird flu outbreak and increased consumer demand.
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Wholesale egg prices surpassed $3 per dozen in August, up from the usual $1 to $2 range. Retail egg prices were up 19% in August compared to last year.
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Marc Dresner, director of communications for the American Egg Board, stated that bird flu has impacted egg supplies while sales have surged to pre-pandemic levels.
Dive Insight:
Wild fluctuations in egg prices have disrupted the market in recent years. Despite this, consumers are buying more eggs, with August sales up over 5% compared to the previous year.
Domestic demand remains strong, and U.S. egg exports have increased, albeit with lower values. The holiday baking season is expected to further boost demand, potentially straining the egg supply.
The bird flu outbreak has caused significant losses in the egg industry, with millions of hens affected. Producers are taking precautions to prevent further spread of the virus.