A group of farmers are calling on the Federal Trade Commission (FTC) to investigate potential egg price manipulation by large egg producers. The increased demand for eggs due to the Covid-19 pandemic has caused prices to skyrocket, leading the farmers to believe producers may be unfairly profiting from the situation.
What Is Egg Price Gouging?
Egg price gouging is when large companies take advantage of a market shortage or increased demand for eggs to artificially raise the price. This type of unfair price manipulation hurts consumers, who may have to pay more for eggs than they would in a more fair market.
Farmers Group Seeks Investigation
The National Farmers Union has called on the FTC to open an investigation into possible egg price gouging. They believe there is circumstantial evidence that producers may be taking advantage of the situation and charging more for eggs than is fair. The group also claims that if producers engaged in this type of behavior, it would be illegal under the FTC Act.
Potential Impact
If the FTC were to open an investigation and find evidence of egg price gouging, it would be a major victory for farmers. It would also help protect consumers by ensuring that they pay a fair price for eggs.
Conclusion
The National Farmers Union is calling on the FTC to investigate potential egg price manipulation. If producers have been unfairly charging consumers more than they should, the investigation could lead to justice for farmers and lower prices for consumers.
Key Takeaways:
- The National Farmers Union has called on the FTC to investigate potential egg price gouging by large producers.
- Egg price gouging is when large companies take advantage of a market shortage or increased demand for eggs to artificially raise the price.
- If the FTC were to open an investigation and find evidence of egg price gouging, it would be a major victory for farmers and help protect consumers.
