Since 2019, the price of an 18-count carton of eggs from Walmart's Great Value brand has increased by more than double, from $1.18 to $2.67. In comparison to before the epidemic, that works out to 14 cents per egg now.
A dozen eggs cost, on average, $2.71, or an outrageous 22 cents per egg. The latest outbreak of avian influenza, which killed millions of birds, is mostly to blame. The USDA reported that there are currently 134 million less hens than are needed for egg production.
The repercussions of a scarcity can last for a long time, and the reduced dairy production is a prime example. Early this year, there was a global shortage of milk. The milk shortage in the US was brought on by a manpower shortage.
Due to rising milk prices, costs are now mounting for goods like butter and cheese, and these price increases are passed along to the consumer. The Street discovered that the price of Walmart Great Value 1% Milk has jumped by over 150% since 2019, with a gallon currently costing $3.46.
The annual increase in chicken costs is predicted to be over 15%, greater than the rate of general inflation, and it may not end there. It is true that avian flu epidemics dealt the supply of chicken a brief, catastrophic blow.
There is now even more reason to believe the price rises will persist. reported that the Department of Justice has approved a $4.5 billion merger between two of the largest poultry producers, Cargill, Continental Grain, and Sanderson Farms.
According to the CPI, the cost of beef has increased by 7.2% from last year. The meat business has seen every type of supply chain constraint there is, including labour shortages, vehicle shortages, and herd shortages.
Ranchers have been forced to reduce their herds due to drought and harsh weather because they cannot adequately feed and hydrate the cattle.
Earlier this year, we were inconvenienced by shortages of palm, canola, and soybean oils at the grocery store. These edible oils are important components of packaged meals, sweets, cosmetics, and toiletries.
We were caught up in the grocery shortages of palm, canola, and soybean oils early this year. These edible oils are important components of packaged meals, sweets, cosmetics, and toiletries.