Three egg companies allegedly worked together to raise the price of eggs, investigation finds
Three of the country's largest egg companies have been manipulating egg prices for years, according to the New York Attorney General's Office.
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Eggs are one of the most popular items at the grocery store, which is why when the price goes up, most shoppers just grin and bear it.
“It’s kinda high, but what could you do?" Brooklyn grocery shopper Sheena said. "You gotta do what you gotta do."
But a new investigation from New York’s Attorney General Letitia James and the U.S. Department of Justice is giving shoppers a little more clarity on why egg prices have been jumping.
The investigation says three egg producers, Cal-Maine Foods, Versova and Hickman’s Egg Ranch, coordinated to influence a daily price index for eggs between June 2022 and March 2025.
Those companies sell eggs under popular brand names, including Eggland’s Best, Land O' Lakes and Farmhouse Eggs.
The investigation also cites an example of the alleged scheme from December 2022. It claims the CEO of Hickman’s emailed Versova and Cal-Maine executives urging them to submit “Strong bids, early and often” into a benchmark pricing service. This then led to higher egg prices for retailers and consumers across the country.
In December 2022, the cost of a dozen Grade A eggs was $4.25, according to the Bureau of Labor Statistics. This was an increase from $1.79 the year before. Today, the average price of a dozen eggs in the U.S. is $2.19.
“I feel better about the price, I do,” grocery shopper Vanessa said.
In the Bronx, shoppers and business owners told News 12 they still remember the impact of soaring egg prices.
Some businesses worked to keep prices affordable, while many customers recall when bodegas began selling individual eggs or small quantities in plastic bags as families searched for cheaper options.
A settlement has been reached with the three companies agreeing to donate 53 million eggs, with nearly 5 million of them going directly to New York food banks and community organizations.
A combined $3.3 million will also be paid to New York and 16 other states involved in the settlement.
