The U.S. government's January inflation report showed that egg prices rose 70.1 percent from a year earlier.

(AFP)

[Financial Channel/Comprehensive Report] According to the latest data from the U.S. Bureau of Labor Statistics, food prices in the United States rose sharply last year, but the increase in eggs was particularly alarming. In the January inflation report, egg prices rose by 70.1% over the same period last year. This has made egg merchants, restaurants and consumers miserable. Foreign media pointed out that the soaring egg prices were mainly affected by factors such as the outbreak of bird flu and the shortage of feed caused by the Russia-Ukraine war.

"CNBC" reported that Julia Yum, who runs a 24-hour deli in New York City, said that a box of 120 eggs used to cost US$40 (about NT$1,235), but now it costs more than US$100 (about NT$3,090).

To combat inflation, they overcharged customers for using credit cards and raised the prices of many in-store products, including eggs.

Please read on...

According to a report published by the U.S. Department of Agriculture last week, the retail price of a dozen large eggs in California was US$7.37 (approximately NT$227), which was higher than the US$2.35 (approximately NT$72.6) in the same period a year ago.

Sam Miller, the owner of the farm "Cedar Ridge Egg", said that due to the rising cost of producing eggs, he raised the price of a box of 5 dozen eggs from US$45 (about NT$1,390) to US$60 (about NT$1,853). New Taiwan dollars), even so, rising labor and oil prices, as well as flock deaths and higher operating costs, have eaten into revenue from price increases.

Sam Miller said the cost of chicken feed alone is adding about $14,000 a month.

Why have eggs become so expensive?

According to the report, eggs are also affected by supply chain chaos and labor shortages. These factors increased the overall food cost of the United States by 10.1% last year, and the outbreak of bird flu has also affected egg production. bird flu deaths.

Avian influenza can be transmitted through wild birds and poultry, and can also be transmitted through contaminated equipment. The increased cost of preventing avian influenza has also put pressure on the industry to increase prices.

Brian Moscogiuri, global trade strategist at egg producer Eggs Unlimited, said that since the Russo-Ukrainian war, the production of eggs related to grains has been observed. Feed for laying hens.

In order to prevent the spread of bird flu, Brian Moscogiuri added that the associated costs of disinfecting and cleaning trucks and trying to stop wild birds are also huge. He described it as a bit like an inevitable natural disaster, and there is really no silver bullet to prevent it.

Although the current increase in egg prices in the United States has moderated, as of mid-February 2023, the wholesale price of eggs in the United States has dropped by more than 50% compared with December 2022, but experts warn that as wild birds will migrate in the United States, bird flu may spread in the spring. Comeback.

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