"Eggs. Eggs. Eggs. Donald Trump made a campaign promise to bring down the prices of eggs, which had become a national symbol of inflation. He can argue that he was unable to fix it. Egg prices rose 10.9% year over year in August, according to CPI statistics. Much of the increase was due to the avian flu. Deaths among chickens from avian flu are at an 80 million run rate."
"Côte d'Ivoire and Ghana produce about 50% of the world's cocoa beans. Over the last two years, these areas have experienced record temperatures and torrential rainfall. Each of these nations will be hit by 15% tariffs. The price of a ton of cocoa was $4,500 at the start of 2024. It has made violent movements this year. To some extent, this is the actions of traders bidding it up and down. The price reached $11,500 earlier this year."
Egg prices rose 10.9% year over year in August, largely driven by avian influenza that has killed chickens at an 80 million run rate. Cocoa and coffee are larger contributors to food inflation and face additional upward pressure from proposed tariffs. Côte d'Ivoire and Ghana supply about 50% of the world's cocoa and have endured record heat and torrential rainfall; each will face 15% tariffs. Cocoa prices swung from $4,500 per ton at the start of 2024 to $11,500, then to $7,500, reflecting trader volatility and supply disruptions. Coffee supplies from Vietnam and Brazil suffered droughts and storms, raising coffee prices 21% year over year, with potential Brazilian tariffs up to 50%.
Read at 24/7 Wall St.
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