Market Commentary and Intraday News
Mexico scrambles to beat egg shortage
273 days ago
(AP:MEXICO CITY) The Mexican government is battling an egg shortage and hoarding that have caused prices to spike in a country with the highest per-capita egg consumption on earth.
President Felipe Calderon and members of his Cabinet have announced about $227 million in emergency financing and commercial measures to restore production and replace about 11 million chickens slaughtered after a June outbreak of bird flu.
Calderon says he's sending inspectors to stop speculation that he blames for high prices, which have about doubled in recent weeks.
Calderon said Friday that his government has already begun large-scale importation of eggs. He also said about 3 million hens were being sent to farms hit by the flu outbreak.
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