Tomato prices are going up, and in some places they are in limited availability. The reason: those hurricanes in Florida earlier this fall which destroyed half the nation's tomato crop. The higher prices are expected to persist for a few more weeks until the next crop is harvested.
Supply and demand. The supply decreased, and as a result the price rises while the quantity traded in the market falls.
The higher price induces some people to temporarily give up eating tomatoes if they are not willing to pay the higher price. This frees up the more limited quantity of tomatoes for those who value them more highly.
I really hope this is rectified quickly because I so enjoy large amounts of ketchup on my hamburgers. I don't want the local Steak n Shake to start charging for the extra ketchup packets at the drive-through. But, I would rather have them charge me a nickel than have them run out. The latter has happened to me a couple times this fall. It's very disappointing to hear that they have run out of ketchup.
Supply and demand. It's everywhere.
Leave a comment