The impact of bird flu is also being felt in trade
The United States is facing a growing egg shortage as bird flu has decimated the egg population in recent years. More than 100 million laying hens have died since 2022, up from 40 million last year. As a result, egg supplies have shrunk significantly, while prices have risen dramatically, according to Index.
Retail restrictions and price increases
Due to the shortage, several retail chains have imposed restrictions on customers buying up to 12 eggs at a time. According to Bloomberg, some stores don’t even need to do this, as they often run out of stock. The price increase is steep: egg prices rose 14% between November and December, another 15% in January, and the United States Department of Agriculture expects another 20% increase this year. This represents a 55% increase in price in one year, and a triple in five years.
The record egg price was set on February 7, 2024, when the average price of a dozen eggs was $7.34 (about 2,800 HUF), which represented another 10% increase in one week. Food prices are expected to increase further due to supply chain challenges.
Impact on the food industry
The increase in egg prices is affecting several segments of the food industry. The Waffle House chain, which has 2,000 locations across America, has implemented a 50-cent surcharge on eggs. Andy Harig, vice president of the Food Industry Association, said that the Western wildfires, the cold in the Midwest and the ongoing bird flu epidemic will continue to be factors in the coming months.
Bird Flu and Supply Issues
Sharon Linsenbardt, owner of Barn Buddies Rescue and Sanctuary in Las Vegas, said it could take months to replace laying hens killed by bird flu. Bryan Spillane, senior food analyst at Bank of America, said the situation won’t improve until bird flu is contained.
Related news
Boycott of American brands begins in India over Trump tariffs
A boycott movement against American brands is gaining momentum in…
Read more >China bans Spanish poultry imports due to bird flu
China has temporarily banned imports of Spanish poultry and related…
Read more >Duty-free Canaan is over: Trump’s global restrictions are disrupting e-commerce
Donald Trump has suspended duty-free international packages worth less than…
Read more >Related news
Fidelity survey: Investors defy general uncertainty
With the restructuring of global systems, investors must navigate an…
Read more >End of the century: drought drove up food prices in July
In July, annual inflation slowed to 4.3 percent, while on…
Read more >Counterfeit food and beverages cause billions in damage in Hungary every year
In Hungary alone, food and drink counterfeiting causes nearly 16…
Read more >