Hi,
Egg prices more than doubled over the past year. Cal-Maine - the giant
corporation that dominates egg production under names like Egg-Land's
Best, Farmhouse Eggs & Land O'Lake Eggs - claims this increase is due to
supply problems.
But last quarter this corporation posted a 65% increase in profits.^1 It’s
clear that high egg prices are the result of corporate greed and price
gouging.
We’ve seen this before: big corporations taking advantage of inflation and
the pandemic to rob working people. Now we’re calling on the FTC to
investigate the egg industry for price gouging.
[ [link removed] ]Sign the petition: Tell the FTC to investigate price gouging in the
cost of eggs!
ADD YOUR NAME
The corporate egg producers have tried to deny their price gouging,
stating that rising prices are due to an avian flu outbreak. They called
their own price increases an “act of God.” But prices were skyrocketing
before any reports of avian flu. As farmer advocacy group Farm Action
explains, “The real culprit behind this 138% hike in the price of a carton
of eggs, appears to be a collusive scheme among industry leaders to turn
inflationary conditions and an avian flu outbreak into an opportunity to
extract egregious profits reaching as high as 40%.”^2
And it’s not just eggs. Across the economy, we’re seeing mega corporations
jack up prices on working people, all while generating historic
profits.Chevron, Amazon, Albertsons, Hershey, and others are all making
more money than ever, while hurting consumers with higher and higher
prices.^3
It’s time for Congress to take action to rein in out of control corporate
greed. Working people should not be struggling to buy food while corporate
CEOs make record setting profits.The FTC needs to investigate corporate
egg producers for price gouging.
[ [link removed] ]Add your name: Tell the FTC to investigate price gouging in the cost of
eggs!
Thanks for taking action,
Joey and the team at Demand Progress
[ [link removed] ]DONATE
Sources:
1. CNN, "Surging egg prices mean record profits for largest US egg
producer,” [ [link removed] ]January 13, 2023.
2. Common Dreams, "FTC Urged to Crack Down on Egg Industry's 'Organized
Theft,'” [ [link removed] ]January 19, 2023.
3. Guardian, “Revealed: top US corporations raising prices on Americans
even as profits surge,” [ [link removed] ]April 27, 2022.
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