The full toll this summer’s epic drought took on the economy is still being reckoned.But Bruce Reinstein, V.P. of strategic development & sourcing for Consolidated Concepts, a group buying and services company for mid-size restaurant chains, told us via e-mail that prices for at least a dozen foods are already rising or are about to spike.
Here’s the full list, with Bruce’s comments:
- Chicken Wings — “Buffalo wings will keep rising into next year until they are almost 100% higher than 2011.”
- Bacon — “Over 5% higher.”
- Apples & Apple Cider — “Prices will be up 20-30% this holiday season instead of being 10% lower if there had not been a drought.”
- Turkey — “A 7% jump in prices.”
- Whole Chickens — “They have been 6% higher since April.”
- Chicken Breasts — “They have been 5% higher since April.”
- Eggs — “Prices of eggs will probably be much higher in 2013 because of the limited supply of chickens.”
- Cooking Oil — “5% higher now, going into next year to a 10% increase over 2011.”
- Milk, Butter & Other Dairy Products — “Butter prices usually drop 20% in the fall, but that has not happened. Instead, dairy prices will be 5-10% higher than 2011.”
Reinstein says smaller chains are going to see their profits or even their survival under attack.