In the midst of the bird flu crisis, it also serves as a warning to those who attempt to increase prices.
Additionally, read” Only 6 eggs per customer” to learn about the egg shortage.
We are also aware of some of those high-lighting social media feeds from consumers who are price-conscious. Additionally, we have observed some retailers rationing, which we believe to be a crucial measure. James Hodge, the chief economist for the Commission, says that this is undoubtedly on our radar.
The poultry farms in South Africa have been destroyed by two avianinfluenza strains.
The legal precedent, according to Hodge, is obvious.
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He claims that retailers run the risk of price gouging if they raise prices significantly above what they are worth.
The courts have made it abundantly clear that increasing prices oversupply or demand is not a socially equitable strategy because doing so only serves to reserve that good for the wealthy. We’ll keep an eye on things and make sure that price increases and cost increases are related.
Price increases, according to Hodge, are possible.
We can’t see retailers take advantage of the situation and drive prices much higher, even though we might anticipate some price increases from egg producers to retailers. We have used rationing in the past because it makes sense.