I don't see higher prices showing up at the local eateries either. So the lesson seems to be that while someone is eating the higher food prices, it is the food processors, wholesalers, retailers and eateries who are suffering the major margin reductions. Dairy farmers are obviously losing money. And I have NO idea how most small restaurants are surviving these days.
Bulk Food Supplier Reveals How Much More Restaurants Are Paying For FoodRob Wile | Oct. 24, 2012
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:
Reinstein says smaller chains are going to see their profits or even their survival under attack. more
- 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."