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Food Prices Set To Skyrocket

by Market FinancePosted onOctober 11, 2022October 11, 2022

Here we go.

President Biden is currently dealing with high inflation, an oil crisis and a crumbling economy. Now, a drought in California has made all of his problems much worse because food prices are expected to soar even higher.

According to Fox, The U.S. Drought Monitor has found that 94% of California is dealing with a very severe drought it will be big trouble for a number of crops including tomatoes, onions and garlic.

The California Department of Food and Agriculture explained that the state produces more than one third of the United States’ vegetables along with three-quarters of the nations fruits and nuts. 

Following news of the drought, the USDA explained that high temperatures in California “have made it difficult for growers to meet market demand.”

Kraft Heinz company, who heavily depends on tomatoes, explained that “this season’s tomato crop in California has resulted in lower yields overall.”

The company then added in a statement, “However, we do not predict a gap in service for any Kraft Heinz products where tomatoes are a critical ingredient. To maintain production, our cross-functional team put a strategy in place that uncovered alternative regions to source tomatoes, as well as the approach to breed unique tomato seeds that have a stronger resistance to climate challenges and are water efficient.”

Nonetheless, while Kraft Heinz says they will be okay, this does not mean food prices for a number of grocery store items will remain the same.

Experts predict food prices will rise even though inflation caused by President Biden has already raised prices by an astounding 8.3% overall compared to last year.

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