Are you wondering why the prices of eggs have skyrocketed recently? Are you trying to determine if it’s a temporary blip or part of an overall trend? At the rate these prices are going, maybe Easter egg hunts should be canceled.
The price of a dozen eggs in the U.S. has remained at $4.25, which is over twice what it was a year ago. This drastic price increase is due to inflation, increasing fuel, feed, and packaging costs, and the worst bird flu outbreak in U.S. history. Additionally, logistical challenges have contributed to an egg supply shortage, further driving up prices.
Let’s explain why the price of eggs is so high and what factors are at play.
Read on for more!
Avian Flu Outbreak
The avian flu outbreak is the primary reason why egg prices are so high currently. In the US, there has been the deadliest outbreak of bird flu in history, causing a shortage of hens to provide the necessary supply of eggs.
The outbreak of highly pathogenic avian influenza (HPAI) has caused egg prices to skyrocket, leading to bare shelves and higher prices. In the U.S., over 57 million birds, mostly egg-laying hens and turkeys have died due to the worst bird flu outbreak in the country’s history.
Although chickens raised for meat consumption appear to be less affected by the virus, the cost of a dozen eggs has continued to climb. As the egg industry works to recover from the outbreak, as consumers, we are left wondering when prices will drop.
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Increasing Costs of Fuel, Feed, and Packaging
The cost of fuel, feed, and packaging have all seen significant increases in recent times, and this has been a major factor in the increasing prices of eggs. Fuel prices have risen due to higher prices of crude oil, while feed costs have gone up due to the increasing price of grain.
Packaging costs are also affected by the rising cost of paper, plastic, and other materials used for food packaging. All these factors have resulted in an increase in the cost of producing eggs, leading to a corresponding increase in their price. As egg producers try to recover production costs, the retail price of eggs continues to rise.
Why are Eggs so Expensive?
In 2023, eggs will be expensive due to a lingering bird flu outbreak and soaring feed, fuel, and labor costs. Avian flu and supply chain challenges from the coronavirus pandemic have kept egg prices high, and some areas are experiencing shortages. Egg prices surged 49% in 2022, which is expected to continue into 2023.
Chickens raised for meat consumption aren’t as affected by bird flu, but this hasn’t stopped wholesale prices for eggs from decreasing. Egg prices are expected to last into 2023, leading the average retail price for a dozen large eggs to jump to $6.72 in California.
When Can Consumers Expect Prices to Drop?
It is expected that egg prices might drop by the end of 2023. This is because the avian flu outbreak, which has been affecting the poultry industry, is slowly coming under control. The increasing cost of fuel, feed, and packaging, which have contributed to the shortage of eggs and their higher prices, are also expected to decline.
Furthermore, the supply of eggs is slowly rising to moderate levels, providing some relief to the market. In addition, chickens raised for meat consumption are less affected by bird flu, according to economists. All these factors will likely result in lower egg prices by the end of 2023.
How to Save Money on Eggs
One way to save money on eggs when prices are high is to buy in bulk and freeze them. It’s a great way to reduce food waste and maximize savings. This also works for items such as butter and milk, which can be frozen and used later on.
Another money-saving hack is to crack the eggs you’re not using and scramble them. Then, transfer them to ice cube trays and freeze them. This way, you’ll have pre-made meals ready when you need them.
Finally, consider using money-saving apps to take advantage of the best deals in your area. These apps often alert you when prices are low, allowing you to save money when buying groceries.
The price of eggs is expected to remain high in 2023 due to the lingering bird flu outbreak and increasing fuel, feed, and labor costs. However, there are a few ways for consumers to save money on eggs, such as buying in bulk and freezing them, using money-saving apps, and cracking the eggs, they’re not using and scrambling them. With these strategies, shoppers can save money while still enjoying egg-based meals.