Increased demand for eggs in the United States has sent egg prices soaring in recent weeks as consumers scramble to stock up on staples due to coronavirus shutdowns.
FILE PHOTO: A store worker cleans an empty display for eggs inside Kroger Co.'s Ralphs supermarket amid fears of the global growth of coronavirus cases, in Los Angeles, California, U.S. March 15, 2020. REUTERS/Patrick T. Fallon/File Photo
Consumer prices have also increased, although not quite as much as wholesale prices, experts said, since some grocery stores have not passed on the higher wholesale prices - at least for now. The wholesale price for the benchmark “Midwest large” eggs dropped as low as $0.78 in mid-January, reflecting a normal post-holiday slump, but rose to around $1.03 in February, where it stayed until early March, Moscoguiri said.
He said demand was down sharply from restaurants and food service operations, given the shutdowns, but they bought more egg products than whole shell eggs and it was taking time to shift production to the shell egg market.
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