Eggs are a staple food for many countries around the world, and the U.S. is no exception. Americans eat between 250‒280 eggs a year on average. Eggs are also easy to cook, protein-dense and supply many daily vitamins needed for healthy living, making them a popular meal or ingredient. So when egg prices rise, people notice. MetalytIQ charted the rapid rise of egg prices in the U.S. during 2022, using data from the U.S. Bureau of Labor and Statistics (BLS). Let’s learn more about the great U.S. egg prices double of 2022.
Eggs-asperating Prices
Over the course of 12 months, the national average price for a dozen large Grade A eggs more than doubled, to $4.25 in December from $1.93 in January.
The biggest culprit has been an avian flu outbreak that resulted in 43 million chickens culled to prevent the spread of the disease.
This led to a severe shortfall in egg supply. Egg inventories in December had fallen by one-third compared to January. Combined with increasing demand during the holiday season, prices skyrocketed and empty shelves became apparent in some states.
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This is not the first time avian flu has disrupted the industry.. In 2015, a similar outbreak pushed egg prices up 40% in nine months, reaching a high of $2.97 per dozen eggs in September 2015.
Will U.S. Egg Prices Double or Drop in 2023?
Avian flu isn’t the only storm the egg industry has been facing in 2022.
The prices of soybean and corn—the main components of bird feed—account for half of the cost of eggs. They’ve been heavily affected by the war in Ukraine, which has driven grain prices higher.
In the near-term, egg prices are expected to remain high. Containing the avian flu outbreak will remain the biggest factor in determining the prices, but as suppliers increase production, prices may cool off a little in 2023.
Story attributed to Visual Capitalist.
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