Are egg producers inflating prices during the bird flu outbreak to boost profits?
Are egg producers inflating prices during the bird flu outbreak to boost profits?
Egg producers blame the ongoing bird flu outbreak for driving prices up to record highs. But some believe giant companies are taking advantage of their market dominance to profit handsomely at the expense of egg buyers.
Summary
Egg producers blame the bird flu outbreak for record-high prices, but critics argue dominant companies are exploiting supply shortages to boost profits.
With over 166 million birds culled and egg layers significantly reduced, prices surged from under $2 to nearly $5 per dozen.
Egg supply is down only 4% from last year, yet profits have surged. Cal-Maine Foods, supplying 20% of U.S. eggs, reported a $219 million profit in the last quarter, compared to just $1.2 million before the outbreak, a 18,150% increase.
Lawmakers and advocacy groups are calling for a government investigation into potential monopolistic practices.
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Yes
A rare inversion of Betteridge's law of headlines is "whenever someone questions whether or not the rich and powerful are exploiting everyone, the answer is yes"
It's capitalism, baby!
Im not sure its the producers that inflate it. Its usually those between producer and consumer
It's not capitalism, baby?
Maybe it’s Maybelline