Egg Prices Skyrocket Because Of Panic Buying

EGG PRICES ARE SKYROCKETING AS CUSTOMERS PANIC SHOP DURING CORONAVIRUS CRISIS

(CNN) – Americans are stockpiling eggs during the coronavirus pandemic; as they cook more meals at home.

And that’s leading to supply shortages and a spike in prices at some supermarkets.

According to the most recent Nielsen data, egg sales went up 44% for the week ending March 14th compared with a year ago.

Walmart and other big grocers have set limits in recent days on purchases of eggs and other high-demand products.

A commodity market research firm says retailers are ordering up to six times their normal egg volumes.

And they’ve depleted the supply that producers were beginning to build for Easter.

Meanwhile, wholesale egg prices have risen 180% since the beginning of March.

Categories: US News