High egg prices should be investigated, U.S. farm group says [View all]

Source: Reuters

High egg prices should be investigated, U.S. farm group says

Leah Douglas
Fri, January 20, 2023 at 11:18 AM EST·2 min read

(Reuters) - The Federal Trade Commission (FTC) should examine high egg prices for signs of price gouging from top egg companies, a farm group said, as Americans continue to pay more than ever for the household staple.

U.S. regulators, farmers, and industry have often argued in recent years about the power of top agriculture firms to set prices and drive up what consumers pay for groceries, such as when the price of beef skyrocketed in 2021.

The latest concern is eggs, whose price was up 138% in December from a year prior, to $4.25 a dozen, according to the Bureau of Labor Statistics.

The U.S. Department of Agriculture (USDA) has pointed to a record outbreak of avian flu as a reason for the high prices. But the nation's antitrust regulator should also examine record-high profits at the top egg company, said Farm Action on Thursday in a letter to FTC chair Lina Khan.

Cal-Maine Foods, which controls 20% of the retail egg market, ...

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