Egg prices not dropping fast enough for consumers
Farmers are dropping egg prices but the trickle down effect hasn’t made its way to the consumer yet as millions of eggs are still being imported from other countries.
Fox – 10 Phoenix
National egg prices fell 9 percent last week to an average of $3 a dozen, according to the U.S. Department of Agriculture.
The decline continues a recent downward trend in egg prices following a national egg shortage driven by the highly pathogenic avian influenza, or bird flu, outbreak. Wholesale prices for graded loose eggs declined $0.26 last week, the USDA confirmed in its weekly egg market report published Friday.
“The supply situation at grocery outlets has greatly improved in recent weeks and consumers are once again seeing fully stocked shelves and enjoying a range of choices without purchase restrictions,” the USDA stated.
Grocers across the U.S. have grown used to rising egg prices as bird flu has sickened over 130 million poultry across the U.S. in recent years. Other factors from transportation costs to labor costs have also helped drive prices up.
The rising cost, coined by many as “egg-flation,” prompted major retailers like Kroger, Trader Joe’s and Costco to implement limits on how many eggs customers can purchase in February.
Egg prices decline in New York, Midwest and California markets
In the New York market, large cartons of eggs declined nearly 2 percent, going to to $3.86 per dozen by the middle of last week, the report states.
In the Midwest, wholesale prices for large white eggs sold to warehouses declined 32 percent, down to $3.69 per dozen.
Meanwhile, in California large eggs declined 18.6 percent, down to $5.34 per dozen, the report states.
Why are egg prices going down?
The decline in national egg prices comes as the USDA reported fewer bird flu cases last month.
Bird flu cases declined significantly down to 2.1 million cases in March, according to the USDA, compared to 12.64 million in February and 23.19 million in January.
Is the egg shortage over?
While the recent decline in egg prices has served as a beacon of hope for many grocers, the USDA warns that wholesale price changes can take up to three weeks to be reflected in retail.
“Consumers are only now starting to see shelf prices slowly decline,” the Friday egg report states.
Contributing: Eduardo Cuevas, USA TODAY
