Egg prices skyrocketing during coronavirus pandemic
Americans are stockpiling eggs during the coronavirus pandemic as they cook more meals at home. This is leading to supply shortages and a spike in prices at some supermarkets.
Nielsen data shows egg sales increased 44% for the week ending March 14 compared with a year ago. Wholesale egg prices have risen 180 percent since the beginning of March.
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 said 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.