So far this year, supermarket inflation has been subsiding—at least, that’s what government economists are telling us. Even egg prices have fallen slightly from their astronomical highs. But to hear Beth Ford, CEO of Land O’Lakes explain it, the devastating effects of the avian flu will mean that higher-than-average price tags on eggs are likely to be with us for a while.
“The largest impact has hit the layer bird population with roughly 50 million birds affected, which is 13 percent of the total number of layer birds,” Ford said. “Those birds can’t be replaced overnight and that has caused a significant decrease in egg production, resulting in the steep price increases we’re seeing.”
The inflationary pressure on eggs and other food products is just one of the many challenges Ford faces. Across the globe, economic growth is slowing, global supply chains are realigning and consumers are demanding more accountability from companies on environmental, social and governance issues.
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