Like many eateries across the nation, the Square Diner in New York City faces the challenge of skyrocketing egg prices, as eggs comprise a significant portion of its menu. Following severe bird flu outbreaks that decimated a portion of the country's egg-laying chickens, wholesale prices have surged to over $8.50 per dozen, twice or even three times what many businesses were accustomed to paying. Mom-and-pop establishments, such as Square Diner, are struggling to manage costs that could threaten their livelihoods.
In an effort to mitigate losses, these restaurants have begun to implement creative solutions. Some are modifying their recipes to include liquid or powdered eggs, which remain more affordable, while others are diversifying their offerings by selling items that require fewer or no eggs, such as falafel or pre-packaged snacks. While reports suggest that egg prices may be stabilizing, the food industry is still anxious due to the possibility of future outbreaks.
Analysts from CoBank indicated that this year could witness a staggering 58% increase in egg prices, fueled by persistent demand stemming from consumer trends emphasizing all-day breakfast and high-protein diets. The nature of eggs as perishable goods complicates the situation; small businesses often lack the financial resources or refrigerator capacity to stockpile eggs for extended periods, relying heavily on their daily or weekly deliveries. Industry experts emphasize that this reliance complicates any attempt to buffer against the drastic price fluctuations in the market.
In an effort to mitigate losses, these restaurants have begun to implement creative solutions. Some are modifying their recipes to include liquid or powdered eggs, which remain more affordable, while others are diversifying their offerings by selling items that require fewer or no eggs, such as falafel or pre-packaged snacks. While reports suggest that egg prices may be stabilizing, the food industry is still anxious due to the possibility of future outbreaks.
Analysts from CoBank indicated that this year could witness a staggering 58% increase in egg prices, fueled by persistent demand stemming from consumer trends emphasizing all-day breakfast and high-protein diets. The nature of eggs as perishable goods complicates the situation; small businesses often lack the financial resources or refrigerator capacity to stockpile eggs for extended periods, relying heavily on their daily or weekly deliveries. Industry experts emphasize that this reliance complicates any attempt to buffer against the drastic price fluctuations in the market.
