100,000 eggs stolen from Pennsylvania company amid rising prices
What's the story
Around 100,000 eggs were stolen from Pete & Gerry's Organics in Greencastle, Pennsylvania.
The theft took place around 8:40pm on a Saturday, the Pennsylvania State Police reported.
The stolen eggs are worth an estimated $40,000 (almost ₹35 lakh).
In response to the incident, the company said: "We take this matter seriously and are committed to resolving it as quickly as possible."
However, they have not commented further due to an ongoing investigation.
Price hike
Theft coincides with projected rise in US egg prices
The theft comes at a time when egg prices in the United States are projected to increase by roughly 20% in 2025, the US Department of Agriculture (USDA) said.
This is much higher than the overall food price rise forecast of 2.2%.
By the end of 2024, the average price per dozen eggs stood at $4.10, doubling since August 2023.
Supply shortage
Bird flu outbreak and rising demand impact egg prices
The USDA blames the increasing egg prices on a supply shortage due to an outbreak of highly pathogenic avian influenza, or bird flu.
Recent outbreaks have been reported in California and New York, with Massachusetts officials saying it is widespread even without confirmed cases.
Emory University's Saloni Vastani compared it to early COVID-19 pandemic behavior, saying "Egg prices are going up because of the avian flu," leading consumers to buy more eggs in anticipation of higher prices and less availability.
Industry impact
Nationwide egg shortage severely impacts US restaurants
The nationwide egg shortage has hit restaurants hard across the US.
Wholesale prices for a dozen large eggs in the Midwest have skyrocketed to an average of $7.08, seven times more than two years ago.
Since the bird flu outbreak started in 2022, around 104 million egg-laying hens have been lost, with 29 million culled since October.
Demand surge
Increased protein consumption needs bolster egg demand
Further, demand for eggs has been boosted by drugs such as Ozempic, which are used for weight loss and diabetes treatment, as they increase protein consumption requirements.
In New York City, some Whole Foods locations have witnessed carton prices hitting $11.99 and have placed a three-carton purchase limit per customer.
Authorities are still investigating the egg theft in Pennsylvania.