#TimeMagazine tells it like it is: #PriceGouging

‘Here’s Why So Many Grocery Store Staples Are So Expensive Right Now’
#NikPopli #SolcyreBurga

“Cal-Maine Foods, which controls 20% of the retail #egg #market, reported quarterly sales up 110% and gross #profits up more than 600% over the same quarter in the prior fiscal year, according to a December filing with the SEC. The company pointed to decreased egg supply nationwide due to #AvianFlu as the reason for higher prices and record sales, though Cal-Maine has had no positive avian flu tests on any of its farms, according to a quarterly report. …

“‘Avian flu is not manufactured—it’s real,’” says #JoeMaxwell, the co-founder of #FarmAction. ‘But the dominant firms are using that supply chain disruption to gouge the consumers. The numbers … clearly indicate that the production loss due to avian flu was minor compared to the prices being charged.’”

https://time.com/6250895/grocery-prices-rising-inflation/

#EconomicJustice #EconomicEquity

WTF Is Going on With #EggPrices? Corporate Greed!
#Egg producers #profitmargins are soaring as Americans struggle to keep up w/ #price hikes, #FarmAction said in letter to #FTC, dozen eggs cost $4.25 last Dec, $1.78 year ago. In some parts of US its $9.73
https://bit.ly/3WwKbkw