Bacon has been for a long time a key ingredient in a delicious lifestyle. Americans have been choosing this product to make their breakfast juicy yet crunchy. A good strip of cooked bacon has earned the title of bacon mania, and it has become highly popular starting with 2011. Moreover, a Smithfield survey found that 65% of Americans are ready to choose this pork belly as their national food. However, bacon lovers will have to expect some difficult times ahead. U.S. prices in this sector will reach new levels in the upcoming months.
On Wednesday, the prices for a good slice of bacon rose to $1.73 a pound which is the highest value such merchandise attained since August 2015. In January 2017, prices saw a tremendous surge of 56 cents. The U.S. Department of Agriculture made a report public according to which this marks the most precipitous escalation in the last four years. Moreover, the situation doesn’t show signs of straightening up in the near future.
David Maloni who is the president of research company American Restaurant Association declared that bacon lovers would have to deal with even higher prices in the following three months. The reason behind this sudden turn of events is that Americans have been increasing the demand beyond the power of suppliers. The popular dish of eggs next to a bacon sandwich has represented the most popular meal for Americans. This led to a shortage of stocks in storages.
On the other hand, other similar products are at their lowest value. There are other numerous pork parts such as loins or ribs, which are going through the lowest prices since the World War II. Nonetheless, bacon remains the most acclaimed product of all. It seems that the origin point of this economic phenomenon is the summer of 2016. This is when bacon prices fell to the lowest point that year of 80 cents a pound.
Moreover, the restaurants began to increase the quantity of such an ingredient in their dishes. For instance, the restaurant chain Wendy’s admitted that their Baconator with six slices of Applewood bacon was the main reason for unprecedented success. The offer became more tempting the moment management accompanied the sandwich with a side of fries at just $1.99.
However, bacon lovers shouldn’t expect a crisis in this sector anytime soon. With the end of winter season, consumers will refresh their grocery lists with other pork products like ham. Moreover, the pig farmers promised to rise to the occasion and answer the increased demand, even though this mission is hard after a major drop of pork belly pounds in stores.
Image source: 1