First chicken, now eggs: Shortage, price hikes looming

After reeling from a chicken shortage, the country may see an increase in egg prices in the coming weeks, according to Agricultural Sector Alliance of the Philippines (AGAP) Party-list Rep. Nicanor Briones.

Briones said that in previous months, egg prices remained low because of the oversupply of eggs in the market. However, the oversupply prompted egg producers to reduce their production because of reduced profits.

He explained that because of the rising cost of feeds, many layer farm owners had stopped.

The threat of bird flu is also a factor for the looming egg shortage.

“Kulang na nga, tinatamaan pa ng bird flu, kaya naniniwala ako na malaki ang magiging kakulangan ng itlog,” he said.

US sanctions crypto ‘laundering’ service Tornado

The United States placed sanctions Monday on Tornado Cash, a leading “crypto mixer” for transactions in virtual currency that US officials describe as a hub for laundering stolen funds, including by North Korean hackers.