White truffle season is upon us. And there’s some good news for those epicures who didn’t lose everything in the recent unpleasantness with the global financial markets: There’s been a collapse in the price of white truffles as people begin tightening their belts.

According to Bloomberg.com, a recent truffle auction saw the price for an 850-gram white truffle (that’s a lot of scrambled eggs) plummet from more than $300,000 paid last year to just $30,900. What a bargain!

That’s an 84 percent reduction in price. And while it doesn’t quite reach the 97 percent drop in profits experienced by Starbucks last quarter, the price collapse doesn’t bode well for purveyors of luxury foodstuffs.

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