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Drought sends Stewart's egg prices up
Posted at: 08/01/2012 6:13 PM
| Updated at: 08/06/2012 11:13 AM
By: Beth Wurtmann
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BALLSTON SPA - A dozen of large eggs for a $1.89. It may not break your budget, but it's more than you were paying at Stewart's just a few days ago.
"We raised the cost 20-cents this week. We have another 25-cent cost coming up this Monday," said Stewart's Shops President Gary Dake, although he hopes to hold off on the second increase.
Dake said he has no choice but to raise the price. The company's own costs soared 45-cents recently on eggs by the dozen, because of the nation's severe drought.
"We ended up with the drought affects in the mid-west and that affects feed costs for making eggs for farms all over the country," he said.
Even though Stewart's gets all its eggs from the Thomas Poultry Farm in Schuylerville, higher costs on corn and soy nationwide are driving up consumer prices, and it could affect more than eggs.
"What I would say to the consumer is get ready. It's incredible how much this is going affect the cost of fuel, the cost of all feed ingredients, any food for animals customers ultimately want beef, corn, pork," said Thomas.
Consumers told us they don't mind paying a little more for a staple in their kitchen.
"It makes sense I guess and you gotta pay what they ask and you gotta have food so that's what we do," said shopper Marc Depew of Glenville.
"Twenty cents at this point no but I know with the drought out West that eventually the increase in corn prices and stuff, it will be affecting my wallet," said Billy Harkin, former Albany resident.
Dake said he's watching a national board that sets prices, and watching his competitors before raising prices again.
"That's why we're going to hold off on the second increase to see what the Price Chopper's and Hannaford's of the world, now long it takes them to let the price increases ripple through from their egg supplier," he said.
Price Chopper told NewsChannel 13 that the drought in the nation has had an overall affect on edging up egg prices.
Hannaford said, no matter what occurs in commodity markets, the grocery store chain is competitive in their pricing.
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