The price of confectionery is also increasing as egg prices soar due to avian influenza in the United States, CNN reported on the 23rd local time.
CNN predicted that as avian influenza spread in the United States last year, tens of millions of chickens were disposed of for quarantine purposes, egg prices are soaring nationwide.
According to the U.S. Department of Agriculture, more than 40 million laying chickens were killed last year as highly pathogenic avian influenza (H5N1) spread across the United States.
According to U.S. government statistics, wholesale egg prices rose 186 percent last month compared to the same period last year. It is the fourth-highest annual price increase since 1992.
Scott Auslander, general manager of Bread First, a bakery in Washington, D.C., said it’s not new to see egg prices go up and down, but this time it’s different and said “suppliers say they don’t know when they’re going to go down.”
Since last week, the bakery has raised the price of one-third of its total products, including mesh egg sandwiches, which contain a lot of eggs, after more than doubling the cost of eggs compared to a year ago.
A bakery owner on New York’s Long Island said he plans to raise product prices in the coming weeks and is considering using egg alternatives.
Following eggs, the rise in cocoa prices is also a burden on bakery owners.
Buffalo Business School professor Charles Lindsey said price increases are typically difficult decisions for businesses because they usually result in losing customers, adding that effectively communicating the reasons for price increases can reduce customer declines.
Kerry Francis Bradley, who co-operates in Washington, DC, said that if there is a need to raise prices, he will post them on social media every time he changes prices to explain and communicate with consumers why the increase is happening.
JULIE KIM
US ASIA JOURNAL
