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.

But while egg supply is only down 4% from last year, profits have soared. Cal-Maine Foods, which supplies 20% of U.S. eggs, reported $219 million profit in its most recent quarter compared to just $1.2 million before the outbreak began.

Lawmakers and advocacy groups are calling for a government investigation into potential monopolistic practices.

  • gi1242@lemmy.world
    0·
    13 小时前

    Lawmakers and advocacy groups are calling for a government investigation into potential monopolistic practices.

    lol. this government believes in free market and corporate profits. if found guilty of monopolistic practices the top execs will immediately be offered more tax breaks, handouts and/or high profile government positions