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Romaine lettuce prices are skyrocketing 61% as farmers deliberately curb growth

If you’re lucky, if you can get a head of romaine lettuce lately, it will cost you a lot of cabbage.

The price of £ 1 romaine lettuce recently rose 61% year-on-year to $ 3.27. This is the highest price since 2006. According to Bloomberg..

This is the largest recorded price increase for any food product, including various meat fillets whose prices have skyrocketed by as much as 20% amid labor shortages and logistics disruptions at slaughterhouses and slaughterhouses.

In the case of lettuce and other carefully selected crops, given the market volatility since the outbreak of the pandemic, farmers do not want to be overly deadlocked, so they are deliberately curbing growth.

Fertilizers are becoming more expensive, and the shortage of truck drivers means that the cost of transporting agricultural products increases. This increases the financial pressure and risk that puts pressure on the agricultural sector.

“They are confused when farmers are on the other side of the demand curve,” said Pentallect Inc, a food service industry consultancy. Barry Friends told Bloomberg. “If I have to plow it or throw it into the market at a cheap price, I don’t want to lose that money. I’m not going to grow it.”

Inflation has skyrocketed to its highest level in 40 yearsConsumer prices rose 7% over the year to December, according to data released earlier this week by the Ministry of Labor.

Soaring prices have made other necessities more expensive. A dozen eggs that were $ 1.48 a year ago are now $ 1.79. The price of £ 1 of sliced ​​bacon is now a whopping $ 7.21, up from $ 5.83 a year ago at the same time.

The combination of strong demand and low supply has pushed the prices of crops such as lettuce to the highest level since 2006.
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Fruits are 7.9% more expensive than the same period 12 months ago. The price of oranges rose 8.9% between November and December.

A pound of minced lean beef, which cost $ 5.71 in December 2020, will return to $ 6.32 a year later. A £ 1 boneless sirloin steak, which was $ 8.98 in December 2020, cost $ 11.05 last month.

Gas, tobacco products, new and used cars have also become more expensive over the past year.

Romaine lettuce prices are skyrocketing 61% as farmers deliberately curb growth

Source link Romaine lettuce prices are skyrocketing 61% as farmers deliberately curb growth

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