Dollar Tree pulls eggs due to soaring prices

Dollar Tree pulls eggs due to soaring prices

Dollar Tree has pulled eggs from store shelves because of the skyrocketing prices, the company said.

Egg prices have gone up by as much as 60% last year, leading the popular discount store to pull eggs over not being able to make a profit, Reuters reported. The majority of the merchandise at Dollar Tree is $1.25, though the store also has other items for $3 and $5.

Our primary price point at Dollar Tree is $1.25. Randy Guiler, company spokesperson, said the cost of eggs is currently very high, according to the Washington Examiner.

Despite the eggs being pulled, they will likely return to shelves when costs are more in line with historical levels. Dollar Tree operates about 8,000 locations in the U.S. and Canada.

Consumer egg prices saw a dip last month, but they still reported a 55% increase in the one-year span from the same month the previous year.

A dozen large Grade A eggs cost an average of $4.21 in February, a decrease from January's $4.82 average, according to data from the Federal Reserve Bank of St. Louis.

With Easter approaching, prices could increase again.

Retail egg prices have not peaked, which is why wholesale prices continue to rise. The teetering flock 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 steady to slightly below December, but yearly prices for eggs often peaks in spring due to Easter holiday egg hunts and baking.