With egg prices spiking 59.9% year-over-year, so have the number of attempts to bring them across the U.S.-Mexico border.
“There has been a large increase in the volume of prohibited food items, such as raw eggs and raw poultry meat, brought by travelers from Mexico. We would like to remind the traveling public that federal agricultural regulations remain in effect,” said Jennifer De La O, CBP Director of Field Operations in San Diego, said in a recent release.
Roger Maier, a U.S. Customs and Border Protection Public Affairs Specialist in El Paso, Texas, told Yahoo Finance he's seen a dramatic "increase in people attempting to cross eggs from Juarez to El Paso because they are significantly less expensive in Mexico than the United States."
In the El Paso crossing area alone, the agency reported the number of eggs and poultry seizures rose 108% from Oct. 1 to Dec. 31 of last year.
Under Federal Law, travelers are prohibited to bring certain agriculture products, including eggs as chickens, into the U.S. because they could carry plant pests and foreign animal diseases.
Maier said for the most part, travelers declare the eggs during the primary border inspection only to have them collected and destroyed by officials, usually without penalty. "Typically people are not concealing the product," he stressed.
But those who don't declare what they're transporting can face fines. "When that happens the eggs are seized and the individual is assessed a $300 civil penalty. Penalties can be higher for repeat offenders or commercial size imports," he said.
Indeed, U.S. Customs and Border Protection Director of Field Operations Jennifer De La O took to Twitter to warn travelers that the fine can be even more — particularly for those attempting to bring in large amounts to resell. "As a reminder, uncooked eggs are prohibited entry from Mexico into the U.S. Failure to declare agriculture items can results in penalties of up to $10,000."
The USDA says there's relief in sight for egg lovers — and border agents — with inventory on the rise and prices starting to fall.
"During the last week of 2022, inventory sizes started to rise, and prices fell. Going forward, wholesale prices are expected to decrease as the industry moves past the holiday season and continues rebuilding its egg-laying flocks."
—
Brooke DiPalma is a reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com.
Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn.
Read the latest financial and business news from Yahoo Finance
Download the Yahoo Finance app for Apple or Android
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube
The U.S. Department of Justice on Tuesday filed an antitrust lawsuit against Google, calling for a breakup of its advertising empire.
While overall grocery prices may be stabilizing slightly after months of inflation, one common food item is skewing the numbers and making news for its high prices — according to the consumer price index, the price for a dozen eggs was up 59.9% in December 2022. "The root cause of the price increase is not inflation per se, although it is one reason, but rather a supply reduction caused by the bird flu," Jonathan Heller writes for TheStreet's RealMoney. "Feed prices have been on the upswing, too, but that is a minor player in this meteoric rise."
Sen. Jack Reed (D-R.I.) is calling on the Federal Trade Commission (FTC) to investigate soaring egg prices. Egg prices have more than doubled since last year, from $1.79 in December 2021 to $4.25 in December 2022, according to the Bureau of Labor Statistics. In a letter on Tuesday, Reed called on the FTC to investigate…
Each year, the U.S. government calculates the new maximum benefit for food stamp (Supplemental Nutritional Assistance Program, or SNAP) recipients based on inflation. SNAP Benefits: How Long Do They…
The top news stories today: Ticketmaster wants Congress to fix its bot problem, Amazon's RxPass offers Prime members generic medications for $5 a month, NASA and DARPA will test nuclear engines for crewed missions to Mars.
Formerly referred to as food stamps, the Supplemental Nutrition Assistance Program, or SNAP, is a government welfare program that provides assistance to families and individuals suffering from food…
Cipla Ltd. wants to make generic versions of Research Triangle Park drugmaker Fennec's lone product.
'Our goal this filing season is to effectively and efficiently serve as many taxpayers as possible,' the Treasury Department’s deputy secretary said.
Rep. Warren Davidson (R-Ohio) says the agency is “not getting the job done,” and it's up to Congress to “craft a policy” that makes it clear who is in charge of regulating specific areas of crypto.
The new year brings renewed motivation, a fresh set of resolutions and all the documents you'll need to file your returns for last year's taxes. Few people look forward to settling up with the IRS,…
Nuclear thermal rocket engines could help get astronauts to Mars more quickly than by chemical propulsion methods. NASA and DARPA are working on nuclear thermal propulsion tech that they hope to test as soon as 2027.
More staff to answer phones, more tax forms and more chances to upload tax forms online — but no clarity yet on a key point for an effort to audit more rich households. The report, released this month, looks at how the Internal Revenue Service will implement extra funding and new tax rules from a sprawling tax and climate package that Congress passed over the summer. The Inflation Reduction Act passed in August, created and expanded clean-energy tax credits, while launching new rules on corporate taxes.
Deckers' (DECK) focus on strengthening its online presence and improving the shopping experience are consistently aiding performance.
Signature is the latest crypto bank to pull back its services.
(Bloomberg) — Pakistan’s money exchange companies will let the currency drop slowly in the open market after deciding to abolish the limit on the dollar-rupee rate.Most Read from BloombergHindenburg’s Short Sell Call Shaves $12 Billion Off Adani StocksUS Confronts China Over Companies’ Ties to Russia War EffortUS and Germany Set to Send Tanks to Ukraine, Breaking DeadlockJosh Kushner Is Richer Than Trump After Billionaires Back His FirmDoomsday Clock Moves to 90 Seconds to Midnight — the Closes
This release contains a video. If you can't see a video, click the link:
The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 25, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The market is building on Friday's positive momentum, with big-cap technology stocks leading. Netflix is being chased higher, and there is relative strength in semiconductors which is pushing the Nasdaq 100 up 1.3% in the early going. Breadth isn't as strong as on Friday, and there are limited pockets of momentum and very few new 12-month highs, but sentiment is positive due to optimism about upcoming earnings reports.
(Bloomberg) — The Bitcoin-touting government of El Salvador’s Nayib Bukele is poised to deliver on a $604 million bond maturing this week, marking a turn of events that leaves investors in distressed emerging-market debt with only one more big maturity to worry about this year.Most Read from BloombergCitadel’s $16 Billion Win Tops Paulson’s Greatest Trade EverUS Confronts China Over Companies’ Ties to Russian War EffortHow Apple’s Upcoming Mixed-Reality Headset Will WorkWhat The Heck Is Happeni
Sri Lanka's central bank held interest rates steady for a third straight meeting on Wednesday, as widely expected, saying the prevailing tight monetary stance is crucial to taming still-high inflation and restoring economic stability. "The Board … was of the view that the maintenance of the prevailing tight monetary policy stance is imperative to ensure that monetary conditions remain sufficiently tight to rein in inflationary pressures," the Central Bank of Sri Lanka (CBSL) said in a statement. "Market rates are adjusting as expected, so there was no need to touch policy rate," said Udeeshan Jonas, chief strategist at CAL Group.