Business
March 19, 2023 | 9:13 p.m
Dollar Tree has decided to stop selling eggs due to the skyrocketing price. Portal/Mario Anzuoni/File Photo
Dollar Tree has been pulling eggs off the shelves because prices have skyrocketed, the company said.
Egg prices have risen by as much as 60% in the last year, prompting the popular discounter to withdraw eggs because it couldn’t turn a profit, Portal reported.
Most of the merchandise at Dollar Tree is $1.25, although the store also sells other items for $3 and $5.
“Our primary price point on Dollar Tree is $1.25. The cost of eggs is very high right now,” company spokesman Randy Guiler said, according to the Washington Examiner.
Though the eggs are raised, they’ll likely return to shelves when “costs are closer to historical levels.”
Dollar Tree operates approximately 8,000 locations across the United States and Canada.
Consumer egg prices fell slightly last month but still reported a 55% increase in the one-year range from the same month last year.
According to data from the Federal Reserve Bank of St. Louis, a dozen large Grade A eggs cost an average of $4.21 in February, compared to the January average of $4.82.
With Easter approaching, prices could rise again.
Dollar Tree is pricing most of its merchandise at about $1.25 — much lower than the rising price of eggs.Portal/Erin Scott/File Photo
“Wholesale prices continue to rise, suggesting retail egg prices have not yet peaked. The fluctuating herd numbers couldn’t come at a worse time for consumers,” David Anderson, Texas A&M University AgriLife Extension, Bryan-College Station, told the Poultry Times. “The January USDA egg report showed prices were stable to slightly lower than December, but annual egg prices often peak each spring due to Easter egg hunts and baking.”
Dollar Tree did not immediately respond to Fox News Digital’s request for comment.
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