Farm Group Wants Investigation Into Egg Prices
A U.S. farm group is asking the Federal Trade Commission to look into the high prices of eggs and possible price gouging. Farm Action is a farmer-led advocacy organization that sent a letter to FTC Chair Lina Khan to share their concerns over “apparent price gouging.” They point out that Americans are paying more than ever for an important household staple.
USDA said a recent record outbreak of highly pathogenic avian influenza is the reason for the high prices. The group says the nation’s top antitrust regulator must look into the record-high profits of the nation’s top egg company.
Cal-Maine Foods controls 20 percent of the retail egg market and reported a quarterly sales increase of 110%, with gross profits 600% higher year-over-year. The company says avian flu is driving up prices. However, Cal-Maine had no positive flu tests on any of its farms.
Click Here to read that letter submitted to the FTC.
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