The American Agricultural Organization suspects that some egg merchants are driving up egg prices during the outbreak of bird flu in pursuit of profit.
[Financial Channel/Comprehensive Report] According to data from the U.S. Bureau of Labor Statistics, the price of eggs in the U.S. rose 138% in December last year compared to the same period in December 2021, reaching $4.25 per dozen (NT$129). Therefore, it is called that the Federal Trade Commission (FTC) should start an investigation as soon as possible to see if there are signs of price gouging by egg merchants.
"Reuters" reported that due to soaring egg prices, Cal-Maine Foods, the largest egg producer accounting for 20% of the U.S. retail egg market, announced its revenue report in December last year. Revenue for the quarter ended November 26 grew by 110%. %, and the gross profit margin has soared by more than 600%.
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The U.S. Department of Agriculture (USDA) pointed out that the reason for the soaring egg prices was the outbreak of bird flu, but the farm organization Farm Action wrote to the FTC on Thursday (19th) that despite the outbreak of bird flu, it cannot be ruled out that egg traders took advantage of the chaos to drive up prices possible, these top egg merchants should be carefully scrutinized.
Lawyers representing Farm Action said that although U.S. egg production fell by 5% year-on-year in October last year, and egg inventories in December were 29% lower than at the beginning of the year, this still cannot explain how egg merchants achieved such high profits.
"We want the FTC to investigate further to see if consumers have been defrauded."
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