Yahoo Finance Food Items That Could Soon Be More Expensive and Harder to Find in 2024
As we witness rapid inflation combined with global uncertainty, it’s no secret that the food industry landscape is facing significant changes.
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A report from the USDA explains that in 2022 alone, “food prices increased by 9.9 percent, faster than any year since 1979.”
As we look to 2024, it’s important to know what foods might increase in price or become scarce due to higher demand. The following list presents foods that will be in short supply in 2024.
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Eggs
In 2023, egg prices surged due to the highly pathogenic avian influenza outbreak, a contagious viral disease among birds. Today, the avian flu continues to persist through 2024, resulting in fluctuations in both demand and supply.
Wheat & Flour
Wheat and flour are encountering significant challenges amid the conflict in Ukraine, widespread famines, and severe droughts.
Rice
Like wheat and flour, rice supply faces challenges from droughts and extreme weather conditions. Adding salt to the wound, India’s government has also enacted recent rice export restrictions on rice, decreasing the rice supply to the U.S.
Chicken
The avian flu also affects the supply of chicken. The correlation between laying hens and meat chickens means that diseases like avian flu can disrupt both egg and chicken meat production. This mutual reliance highlights the intricate balance within the poultry industry, where bird health plays a pivotal role in determining the availability and pricing of essential protein sources such as eggs and chicken meat.
Beef
According to the Food Price Outlook report by the USDA, beef prices are expected to rise by 2.2% in 2024, largely due to rising feed costs and water scarcity. Keep an eye out for temporary price drops, as they will likely be short-lived, signaling an impending surge.
Cooking Oils, Seed Oils, & Olive Oil
According to the USDA, oil prices are predicted to increase by 4.6%. The impact of severe weather on harvests and the Ukrainian conflict are the primary drivers behind these escalating costs.
Food Shortages in 2024
Staying informed is key, whether it’s eggs affected by avian flu outbreaks, grains challenged by conflicts and droughts, or poultry products impacted by disease outbreaks. Despite the challenges we’ll face in 2024, the best way to be proactive is to stay aware and keep an eye out for temporary price fluctuations so you can stock up or budget accordingly.
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This article originally appeared on GOBankingRates.com: Food Items That Could Soon Be More Expensive and Harder to Find in 2024
