World News

32072 readers

968 users here now

News from around the world!

Rules:

Please only post links to actual news sources, no tabloid sites, etc
No NSFW content
No hate speech, bigotry, propaganda, etc

founded 4 years ago

MODERATORS

[email protected]

Egg Prices Are Rising Again. Why Are They So Expensive? (www.nerdwallet.com)

submitted 8 months ago by [email protected] to c/[email protected]

24 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 48 points 8 months ago (1 children)

Worth a read https://pluralistic.net/2023/01/23/cant-make-an-omelet/#keep-calm-and-crack-on

At the same time the last egg price spike was happening in the US, one of the largest market share producers just so happened to have a 65% YoY profit increase. Go figure.

[–] [email protected] 30 points 8 months ago* (last edited 8 months ago) (1 children)

Yep. No reason not to think it isn't just corporate greed again.

(from the article about the previous insane egg prices)

In absolutely unrelated news, eggs are suddenly incredibly expensive. A dozen "conventional" eggs are currently averaging $2.88, which is double what they cost a year ago. Supposedly, this is caused by a supply chain shock (an avian flu outbreak).

But – and this will shock you, I know – the single company that dominates the US egg industry, Cal-Maine Food (AKA CALM – ugh) is making record profits. Their Q3/22 net was up 65% from the year before. Cal-Maine's Q4-22 sales were up record-smashing 110% – $801.7m:

[–] [email protected] 2 points 8 months ago

Shit is infuriating, Americans should be tarring and feathering these people