Wet weather could push up beer prices in the UK

Published 2024년 5월 1일

Tridge summary

The UK is facing a potential surge in beer prices due to heavy rainfall during the winter and spring, as reported by the Energy and Climate Intelligence Unit (ECIU). This is attributed to a projected significant decrease in the production of key crops such as wheat, barley, oats, and oilseed rape, with a predicted 17.5% drop from 2023 levels and over 21.2% from the 2015-2023 average. This decline is caused by waterlogged soils preventing planting and applying fertilizers, leading to higher costs for brewers and distillers due to the high malting barley premium. The wet weather is also expected to increase the cost of bread, biscuits, and other products, and is part of a larger trend of extreme weather impacting food security and driving up food prices. The ECIU is calling for faster transition to net zero emissions to limit these impacts and is supporting farmers in adapting to climate change through green farming schemes.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The relentless rain in the UK’s winter and spring could push up beer prices, according to an analysis of the country’s agricultural sector. According to analysis of data by the Energy and Climate Intelligence Unit (ECIU), it is estimated the production of wheat, barley, oats and oilseed rape could be down around 4 million tonnes or 17.5% on 2023 levels. Compared to the 2015-2023 average, the decline would be more than 5 million tonnes or 21.2%. The analysis is based on Agriculture and Horticulture Development Board (AHDB) crop area forecasts and Department for Environment, Food and Rural Affairs (Defra) yield data. With the wet weather continuing to hamper planting of spring crops like barley, the historically high malting barley premium may hold, leading to higher costs for brewers and distillers, raising the prospect of the wet winter increasing the price of a pint. Tom Lancaster, land analyst at ECIU said that farmers were reporting it was the “worst winter they’ve ever ...

Source: Thedrinkbusiness