Egg prices skyrocket because of panic buying

National

(CNN) – Americans are stockpiling eggs during the coronavirus pandemic, as they cook more meals at home. That’s leading to supply shortages and a spike in prices at some supermarkets.

According to the most recent Nielsen data, egg sales went up 44% for the week ending March 14 compared with a year ago.

Walmart and other big grocer 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. They’ve depleted the supply that producers were beginning to build for Easter.

Meanwhile, wholesale egg prices have risen 180% since the beginning of March.

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