Chicken egg prices increased 300% in the US

Empty egg shelves at a supermarket in Brooklyn, New York on March 18. Photo: CBS News.
Empty egg shelves at a supermarket in Brooklyn, New York on March 18. Photo: CBS News.

Along with toilet paper and hand sanitizer, eggs and meat are the two items most sought after by US consumers at supermarkets when the Covid-19 outbreak broke out in the country.

According to CBS MoneyWatch, Nielsen’s statistics show that in the four weeks to March 21, total egg sales in the US increased 29% over the same period in 2019. Especially, last week sales increased to 86% compared with the same period last year.

“The explosive demand is causing eggs shortages,” said Brian Moscogiuri, an analyst at market researcher Urner Barry. “And this situation occurs nationwide.”

According to Moscogiuri, the wholesale price of a dozen Midwest eggs – the standard price of the US poultry industry – rose to a record of $ 3.09 on March 26, well above $ 1.03 earlier this month.

“Egg prices increased 300% in the first 3 weeks of March. Retailers said demand for eggs increased 4-6 times in a very short time. Currently, the supply of eggs is limited,” said analyst. by Urner Barry said.

Eggs and meat are the most purchased items at US supermarkets. Photo: BigStock.
Eggs and meat are the most purchased items at US supermarkets. Photo: BigStock.

Meanwhile, Fooddive.com cites statistics from the National Poultry Council (NCC) that sales of meat in the US increased 76.9% in the week to March 15 compared to the same period in 2019%. .

Ground beef was the most profitable item with an increase of US $ 179.1 million, chicken breast increased by US $ 89.5 million, tenderloin and pork ribs increased by US $ 36.9 million and US $ 31.6 million respectively.

The wholesale price of processed beef has increased by nearly 20% in recent years. In general, food retail sales for the week to March 15 increased by about 69% over the same period last year.

Since the outbreak of Covid-19 in the United States, the state of hoarding has spread in the United States. At supermarkets across the country, consumers are rushing to buy food, toilet paper and cleaning products, causing supply shortages.

In the face of such a situation, many large supermarket chains – including Walmart – only allow customers to purchase a limited amount of eggs, toilet paper, hand sanitizer, drinking water, diapers, towels, formula and baby food.

Source: https://behecare.com/

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