Egg prices continue to hit record highs around the world, impacting the global egg supply, reports Progressive Grocer. The news came from a recent report from Rabobank, a financial services company.
Elevated price tags are expected to remain throughout 2023, especially in areas affected by high feed costs, persistent avian flu outbreaks, and import restrictions.
“Rabobank’s global egg price monitor reached a new record in Q1 2023, with the index now peaking above 250, which means prices are 2.5 times higher than the reference year of 2007, and have increased more than 100% since this time last year,” said Nan-Dirk Mulder, senior analyst of animal protein at Rabobank.
Mulder also shared that regulations introducing production restrictions, shifting consumer behavior, and tightening supply caused by uncertainty have also contributed to the high prices. Europe, Brazil, Mexico, the U.S., Japan, the Philippines, and New Zealand are all feeling the effects of the egg crisis.
In the U.S., the high price of eggs has caused Dollar Tree to discontinue egg sales at its banner locations. Full Story
Related: Kroger Shares Budget Easter Meal; USDA Appoints Food Safety Advisory Committee Members