Nicole Spector
·2 min read
It was a bad year for food shortages in 2022, with categories including eggs and baby formula hit hard. Unfortunately, 2023 could see its own batches of food shortages. Here’s what consumers should start stocking up on now before prices soar and products likely become harder to find on store shelves.
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1. Corn
Historically, Ukraine has been one of the world’s leading providers of corn, but that’s all changed since Russia’s invasion — which has no end in sight. As such, we’ll be seeing less corn. This is a pretty major issue since corn is an ingredient in so many other American products, including chips, salad dressings and even soda.
2. Bread
A bread, flour and wheat shortage are likely on the horizon largely because of the ongoing war in Ukraine. Russia and Ukraine account for close to 20% of the world’s cereal grain production.
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3. Vegetable Oil
Several vegetable oils — canola oil, sunflower oil, soybean oil and palm oil — are expected to be in short supply over the next several months. This is due to a few factors, including Indonesia’s decision to halt the export of palm oil and continuing droughts around the globe.
4. Baby Formula
The ongoing baby formula shortage is expected to last through the spring of 2023, according to a recent report from Reckitt Benckiser, the maker of baby formula giant Enfamil, Reuters reported. The shortage is persisting mainly because the issues that led to the initial shortage last year — including the pile of recalls and labor shortages — led to such a monumental supply shock.
5. Champagne
Hopefully you got your fill of champagne on New Year’s Eve, because 2023 is looking a bit dry on the bubbly. There has been a huge surge in consumer demand for champagne. Between 2020 and 2021, U.S. sales leapt by nearly 64 percent, according to Comité Champagne, and demand persisted through 2022. This put stress on champagne producers who are now struggling to keep up supply.
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6. Canned Pet Food
If ever there was a time to start making your own pet food, it’s now. Thanks to an aluminum shortage, canned pet food could be harder to come by in the new year.
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This headline has been updated with additional information.
This article originally appeared on GOBankingRates.com: These Foods Will Be In Short Supply In 2023, So Stock Up Now (Or Find Alternatives)
I'm an expert in agricultural economics and global food supply chains, with a deep understanding of the factors influencing food shortages and prices. My knowledge extends to geopolitical events and their impact on specific commodities. Now, let's delve into the concepts mentioned in the article by Nicole Spector, providing insights and additional information:
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Corn Shortage:
- Historical Provider: Ukraine was a major global supplier of corn.
- Impact of Russia's Invasion: The ongoing conflict with Russia has disrupted Ukraine's corn production and export capabilities.
- Consequences: The shortage of corn will affect various American products like chips, salad dressings, and soda.
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Bread, Flour, and Wheat Shortage:
- Ukraine and Russia's Role: Russia and Ukraine together contribute nearly 20% to the world's cereal grain production.
- War's Impact: Ongoing war in Ukraine is likely to result in shortages of bread, flour, and wheat globally.
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Vegetable Oil Shortage:
- Multiple Oils Affected: Canola oil, sunflower oil, soybean oil, and palm oil are expected to be in short supply.
- Causes: Factors include Indonesia halting palm oil exports and continuing global droughts.
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Baby Formula Shortage:
- Duration: The ongoing shortage is expected to persist through the spring of 2023.
- Causes: Recalls, labor shortages, and supply shocks have contributed to the prolonged baby formula shortage.
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Champagne Shortage:
- Consumer Demand Surge: Between 2020 and 2021, U.S. sales of champagne increased by nearly 64%.
- Impact on Supply: High demand has stressed champagne producers, leading to challenges in maintaining an adequate supply.
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Canned Pet Food Shortage:
- Aluminum Shortage: A shortage of aluminum is affecting the production of canned pet food.
- Recommendation: Pet owners are advised to consider alternative options or even prepare homemade pet food.
It's crucial for consumers to stay informed about these potential shortages and consider alternative products or stock up on essentials to mitigate the impact of potential price hikes and scarcity in the coming months.
