Monday, January 17, 2022

Romaine lettuce prices soar 61% as farmers purposely grow less

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If you are lucky enough to get your hands on a romaine salad these days, it will cost you a lot of cabbage.

According to Acesparks, the price of a pound of rum recently rose 61 percent from a year earlier to $ 3.27 – the highest price since 2006.

This is the largest increase in the price of any food product, including various pieces of meat, due to labor shortages and slaughterhouses and logistics failures in meat processing plants. Increased by 20%.

As for lettuce and other selected crops, farmers are deliberately growing less since the pandemic began, given the market’s volatility and unwillingness to stick to the surplus.

Fertilizer has become more expensive, and the lack of truck drivers means more cost to transport the product – increasing financial pressure and the risk of squeezing out the agricultural sector.

“If farmers are on the wrong side of the demand curve, they will break down,” said Barry Friends food service consultant Pentallect Inc. To Acesparks. “If I have to plow it or throw it cheap on the market, I don’t want to lose that money. I don’t grow it.

Inflation rose to its highest level in 40 years, with consumer prices rising 7 percent for the year ending in December, according to data released earlier this week by the Department of Labor.

Rising prices have made other necessities more expensive. Ten eggs, which were $ 1.48 a year ago, now cost $ 1.79. A pound of sliced ​​bacon now costs $ 7.21 – up from $ 5.83 a year ago.

The combination of strong demand and low supply has pushed up the price of crops such as lettuce to its highest level since 2006.

Fruits are 7.9% more expensive than in the same period 12 months ago. In November and December, orange prices rose 8.9 percent.

A pound of lean minced meat, which cost $ 5.71 in December 2020, will return you $ 6.32 a year later. A pound of boneless sirloin steak, which cost $ 8.98 in December 2020, fell to $ 11.05 last month.

Over the past year, gasoline, tobacco products, new and old cars have also risen in price.

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