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US egg prices surge, will keep surging in next year
(MENAFN) Eggs prices are increasing, and industry analysts expect that these higher prices will continue into the following year, specifically if Highly Pathogenic Avian Influenza (HPAI) also popular as "bird flu" poisons, endures.
Wells Fargo Agri-Food Institute Sector Manager Kevin Bergquist stated that egg costs have been surged since the previous year as a result of the mixture of seasonal price surges throughout the holidays as well as interruption in egg supply because of the bird flu.
Prices through the last year have "generally" continued beyond 2023 prices and even "often exceeded egg prices from 2022, which was when HPAI really caught the egg market," based on Bergquist.
Wholesale egg costs, which climbed approximately 55 percent in the past month, do not certainly represent customer egg prices at the grocer, which can differ broadly.
Based on the Consumer Price Index, grocery prices increased 0.5 percent in the previous month, with four of the six major grocery shop food group surging in cost. Eggs marked the biggest surge by an extensive margin.
Prices for meats, poultry, fish, as well as eggs jumped 1.7 percent last month, but prices for eggs increased 8.2 percent.
Wells Fargo Agri-Food Institute Sector Manager Kevin Bergquist stated that egg costs have been surged since the previous year as a result of the mixture of seasonal price surges throughout the holidays as well as interruption in egg supply because of the bird flu.
Prices through the last year have "generally" continued beyond 2023 prices and even "often exceeded egg prices from 2022, which was when HPAI really caught the egg market," based on Bergquist.
Wholesale egg costs, which climbed approximately 55 percent in the past month, do not certainly represent customer egg prices at the grocer, which can differ broadly.
Based on the Consumer Price Index, grocery prices increased 0.5 percent in the previous month, with four of the six major grocery shop food group surging in cost. Eggs marked the biggest surge by an extensive margin.
Prices for meats, poultry, fish, as well as eggs jumped 1.7 percent last month, but prices for eggs increased 8.2 percent.
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