Bourbon and bacon and chocolate, oh my! Drought, shortages and more will increase costs on some notable goods next year.
This post comes from Josie Rubio at partner site DealNews.
Love bourbon, bacon and chocolate? Too bad. Those are just a few of the things you can expect to pay more for next year, thanks to droughts, increased demand and, possibly, hipsters.
Take heart, there’s some good news, too. In spite of the earthquake in Napa Valley this August, wine prices aren’t likely to increase, and even though L.L. Bean has been experiencing a shortage of its signature duck boots, a company spokesperson told DealNews there are no plans right now to raise prices. (With a waitlist of more than 100,000, though, you might want to order a pair for next winter.)
Also, national average gas prices have fallen every day since the end of September, are at four-year lows, and are expected to continue dropping.
To see what you might want to stockpile, read our list of items predicted to be more expensive in 2015.
Some think the impending bourbon shortage announced by Buffalo Trace earlier this year is nothing but a marketing ploy to drive up prices and demand, but a spokesperson for the company recently told Business Insider that the shortage is “very real.”
Within the last five years, sales of domestic bourbon have increased 36 percent, and while there’s no minimum aging time for bourbon, most are aged for at least two years or longer. (Buffalo Trace, for example, ages its whiskey for four to 23 years.)
Not predicting the craft cocktail- and hipster-fueled popularity, some bourbon distilleries are rationing their bottles for the first time since the end of Prohibition and, of course, raising prices.
2. Beef and pork (yes, bacon, too)
It’s not entirely the fault of hipsters and foodies. (Though they’re almost certainly drinking all the bourbon.) Aside from increased demand, a pig-killing virus and higher feed costs have been causing the bacon and pork price hike. Higher feed prices are also affecting beef prices. In fact, Chipotle has even reported that customers are opting for chicken instead of steak after the chain’s menu prices changed to reflect the rising beef costs.
Beef and pork prices will continue to increase in 2015.
Speaking of burritos, it might cost more to make guacamole. It looks like 2015 will be the year of the avocado shortage, largely because people are eating too many of them. (The real question is, how has everyone been making guacamole without limes?)
Well, this is just getting depressing. Top chocolate manufacturers have warned of a cocoa shortage, a disaster that Stephen Colbert predicts will be heralded by “the 3 Musketeers of the apocalypse.”
Ebola-stricken countries produce only 0.7 percent of the world’s cocoa, so the main culprit is a West African drought, as well as increasing worldwide demand for chocolate. Chocolate prices have been rising, particularly in the case of small artisanal chocolate makers who use quality ingredients and often more cocoa for dark chocolate.
If prices of sweet treats don’t increase, it’s not necessarily luck. Some confection experts predict that candy makers will use less chocolate and more of other ingredients — nuts and raisins, for example — to keep costs down, while others will use cheaper ingredients, such as palm oil. Even the Easter Bunny is expected to fill baskets with smaller chocolate eggs this year.