The average price of eggs has skyrocketed across the United States and many other countries, resulting in significant shortages. Consequently, numerous restaurants have raised their prices or removed egg-based items from their menus.
According to reports from the Financial Times (FT), the global average price of eggs has surged by 60% compared to 2019. The U.S. Department of Labor reported that, as of last month, the consumer price for a dozen eggs in the U.S. rose by 28.1% compared to a year ago. The Bureau of Labor Statistics explained, “Since we began tracking egg prices in 1980, we have not seen such a spike, except for the COVID-19 pandemic when prices exceeded $3 per dozen.”
As egg prices continue to climb, restaurants that feature egg-based dishes, such as breakfast sandwiches, have had to adjust their prices. In some locations in Australia, major franchises like McDonald’s have temporarily suspended breakfast items containing eggs due to the ongoing shortage.
The primary reason for the surge is avian influenza. In 2022, approximately 40 million chickens were culled in the U.S. due to bird flu, with an additional 33 million commercial chickens removed from November of last year to July this year during a separate outbreak. Consequently, U.S. poultry farms reported a 2.6% decline in egg production in July compared to the previous year. Reports indicate that consumers are increasingly turning to eggs as a more eco-friendly and affordable source of protein, which has also contributed to rising prices. Additionally, the ongoing conflict between Russia and Ukraine has driven up feed costs, further exacerbating the situation. While overall food prices have only slightly increased as inflation stabilizes, egg prices have risen dramatically.
The situation is similar in Europe, India, and Australia, where egg prices have risen by over 50% to 90% compared to 2019. FT noted that the war between Russia and Ukraine has also caused feed prices to spike, adding to the pressures on egg prices worldwide.
