Confusion of Collusion: Non-profit says nothing justifies the price hike in eggs
While egg prices have fallen in recent weeks, they are still above average, sitting at about $4.25 per dozen. Most analysts blame it on the record-breaking HPAI outbreak, but the non-profit, Farm Action, says there has not actually been a big drop in supplies.
“We saw nothing that justified these price hikes, they are up 138 percent since last year, that’s more than double. Meanwhile, companies that haven’t reported a single case of avian flu are raking in record profits,” said Dee Laninga.
Sarah Carden, also with Farm Action, says a lack of competition is the real culprit.
“But instead, what we see is all of them raising their prices, which just leads to this conclusion of collusion,” said Carden.
Last month’s CPI report showed eggs were up 60 percent with inventories down nearly 30 percent. We should know more when this month’s report comes out on February 14th.