Topline:
This week, the U.S. Department of Agriculture announced a $1 billion plan to tackle the egg crisis.
Why it matters: Eggs have become the grocery staple that Americans can't stop talking about and prices have been going through the roof.
Read on... for more of USDA's plan and some reasons behind the egg price hike.
Eggs have become the grocery staple that Americans can't stop talking about: whether its fears of widespread bird flu getting worse, or the drastic increase in the cost of eggs as a result of so many chickens dying from illness or being culled because of the outbreak.
This week, the U.S. Department of Agriculture announced a $1 billion plan to tackle the crisis.
1. Egg prices jumped more than 15% last month, and panicked buyers emptied store shelves as fears of a wider shortage loomed.
2. In its plan, the USDA said it would spend up to half a billion dollars boosting bio-safety precautions at egg farms. Another $400 million will go to speed the replacement of lost birds, although it can take six months to a year to raise a productive laying hen.
3. The plan also calls for spending $100 million to explore ways to temporarily boost the supply of imported eggs, and possibly to vaccinate domestic chickens. Vaccination efforts can pose a challenge, as it can make the exportation of chickens raised for meat more difficult.
While the avian flu can be responsible for the immediate shortage in eggs, some are beginning to question what other factors could be at play.
Advocacy groups like Farm Action, and a handful of Democratic lawmakers have called for a deeper investigation into whether industry concentration and practices are behind this price spike.
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