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Today’s Global Shortages That Might Be Impacting You

Updated: Dec 20, 2023By Amanda JamiBusiness
This article originally appeared on Investing.com. It has been republished here with permission.
Gas ©Sergey Novikov / Shutterstock.com Gas ©Sergey Novikov / Shutterstock.com

The effects of the pandemic on our global economy and the worldwide supply chain have been devastating. Global commerce has changed, and buyer behavior has become totally unpredictable. Some areas of commerce have seen enormous growth while others have suffered, and many businesses have even had to close their doors. 

This affects us in many different far-reaching ways, some of which are rather surprising. Read on to discover the items and industries that are experiencing shortages, and why this has happened. If just one link in the chain is weak, the whole chain can break. Let us examine where and how the chain of supply and demand is weak, and how this affects our daily lives. 

1. Bacon

Cause: More outdoor gatherings and barbecues
Effect: Shortage of bacon (oh no!)

Who would have thought that restrictions on indoor gatherings would result in a bacon shortage? The reason is simply more demand than supply due to many more outdoor gatherings than ever before. 

Bacon ©New Africa / Shutterstock.com Bacon ©New Africa / Shutterstock.com

People are meeting for barbecues and grilling meat like bacon and hot dogs and the food and agriculture industry is struggling to keep up with the demand. Unfortunately for the meat lovers, according to the experts, this might continue throughout the summer. 

2. Sriracha

Cause: A bad harvest crop in 2022
Effect: Shortage of chili peppers to make sriracha 

Sriracha sauce is a beloved condiment by people all around the world, and that is why the news of a sriracha shortage when it broke in June of 2022, was so shocking. Huy Fong Inc., a major producer of this hot sauce, said it “confirm[ed]…an unprecedented shortage” of its products in 2022.

Sriracha ©The Image Party / Shutterstock.com Sriracha ©The Image Party / Shutterstock.com

According to Huy Fong, the shortage was caused by “several spiraling events,” such as a foreseen crop failure from 2022’s spring chili harvest. Of course, after the news broke, people began hoarding Sriracha hot sauce, which sparked a huge backlash on the Internet. 

3. Orange Juice

Cause: Hurricanes, frost, and bugs
Effect: Brazil and Florida aren’t producing as many oranges anymore 

The USDA had a dismal forecast for orange juice in the 2022-2023 season, stating that Florida would export 28 million boxes of oranges during the year. This is the lowest output since 1943, and orange crops in the state have shrunk 51%.

Orange Juice © wavebreakmedia / Shutterstock.com Orange Juice © wavebreakmedia / Shutterstock.com

Frost, bugs, and hurricanes are the three main causes of the decline. Floridian orange crops aren’t the only ones hit by adverse weather. Brazil, another top citrus grower, has been hobbled, too. The only state that remains unchanged is California, which has to work double-time to minimize the shortage’s impact.

4. Beef

Cause: Droughts, high feed prices, financial pressure on ranchers and farmers
Effect: More cows sent to slaughter, causing a beef shortage 

Good Ranchers predicted in the late summer of 2022 that a “meat recession” was on its way, thanks to high feed prices, lack of water in the drought-filled Plains, and financial pressure on ranchers and farmers. Texas herds, especially, have shrunk, leading to a shortage of beef.

Beef ©ESB Professional / Shutterstock.com Beef ©ESB Professional / Shutterstock.com

The money that was made during 2020’s meat prices caused many ranches and farms to cash in on cattle that they normally would not have sold. The beef shortage will hit its peak in 2023 and 2024, so expect to see higher prices and fewer beef products in your grocery store.

5. Broccoli

Cause: 2022 heatwaves
Effect: The adverse weather has destroyed broccoli crops

The broccoli shortage was good news for kids who don’t want to eat their veggies, but bad news for those of us who enjoy this healthy vegetable. The broccoli shortage has continued from late 2022 into 2023, with one of the main reasons being 2022’s heatwave.

Broccoli ©Galina Zhigalova / Shutterstock.com Broccoli ©Galina Zhigalova / Shutterstock.com

There was not enough rainfall and too-high temperatures in 2022, which destroyed broccoli crops across the U.S. Broccoli isn’t the only vegetable affected by the bad weather—Brussels sprouts and cabbage are, too.

6. Honey

Cause: Cold 2021 winter, rise of the varroa mite
Effect: 45%-90% losses for beekeepers leading to a honey shortage 

The winter of 2021 saw massive losses for beekeepers in America, with some calling the season “devastating.” The record number of bee deaths was so severe that honey shortages have continued into 2023.

Honey ©Mehmet Cetin / Shutterstock.com Honey ©Mehmet Cetin / Shutterstock.com

During the winter of 2021, beekeepers across America faced bee losses of 45%, with some bee farms seeing 90% losses. The unseasonably cold winter, combined with the rise of the parasitic varroa mite, caused beekeepers to see huge numbers of their hives die off, with devastating results.

7. Nutella

Cause: Production problems in France and Turkey
Effect: Nutella shortage has been ongoing since 2019

Nutella fans should stock up on this sweet spread, as experts say there will be a global Nutella shortage. A factory in France that produces one-quarter of the world’s Nutella supply went into a strike-caused shutdown in 2019, and the effects are still being felt today.

Nutella ©monticello / Shutterstock.com Nutella ©monticello / Shutterstock.com

Additionally, Turkey is a huge hazelnut producer, and, when it went through a currency crisis in 2021 and 2022, that caused its production to all but shut down. Though Nutella factories are located in Mexico, Canada, and other locations, this spreadable dessert has had a hard time keeping up.

8. Rice

Cause: Super Typhoon Karding
Effect: The Philippines’ rice production has been damaged by the typhoon

In late 2022, The Manila Times announced that there could be a shortage of rice in 2023, due to the devastation caused by Super Typhoon Karding. The Philippines is the eighth-largest rice producer in the world, and the country accounts for nearly 3% of all rice produced.

Rice ©Evan Lorne / Shutterstock.com Rice ©Evan Lorne / Shutterstock.com

Rice and vegetables from the Philippines saw their prices soar 20% after the typhoon hit, causing widespread devastation. Super Typhoon Karding caused $110 million in damage over a ten-day period in the fall of 2022, with wings reaching 160 miles per hour.

9. Cod Fish

Cause: Overfishing, environmental changes, restrictive fishing quotas
Effect: Cod is having trouble rebounding, causing a shortage 

For centuries, New England fishermen have caught Atlantic Cod, and NPR described the fish as being “foundational” to the region’s economy. Alas, it was this fishing that led to catches dwindling, starting in 2012.

Cod Fish ©Grigorev Mikhail / Shutterstock.com Cod Fish ©Grigorev Mikhail / Shutterstock.com

The haul of Atlantic Cod was once abundant, but now there are shortages. Overfishing, environmental changes, and restrictive fishing quotas are the factories behind the shortage, and, unfortunately, local populations have shown little signs of rebounding.

10. Oranges

Cause: Hurricanes, bugs, and frost have impacted Florida badly
Effect: Low orange output for the 2022-2023 season 

During the 2020-2021 season, Florida produced 41 million boxes of oranges. That number was considered low, so, when it was announced that the state would be producing just 28 million boxes during the 2022-2023 season, people were worried.

Oranges ©Nitr / Shutterstock.com Oranges ©Nitr / Shutterstock.com

That output is the lowest since WWII, caused by frost, bugs, and hurricanes. Other orange producers, such as Brazil, have also been impacted by the same problems. Prepare to see orange prices (and the cost of orange juice) spike in 2023.

11. Chicken

Cause: High demand, labor shortages, record expenses
Effect: There is a shortage of chicken (and eggs) since 2021 

There has been a chicken shortage ongoing since 2021, and, as Tools Group put it, “What the cluck is going on?” Prices of chicken spiked before the holidays in 2022, going up by 12% right before Christmas.

Chicken ©FotograFFF / Shutterstock.com Chicken ©FotograFFF / Shutterstock.com

The problems had been widespread before that, with fast food chains cutting chicken items in 2021, and more than half of Americans saying that there was a shortage of meat and eggs in 2022. High demand, labor shortages, and record expenses are the three main culprits behind this ongoing chicken shortage. 

12. Mustard

Cause: Drought conditions, supply problems, the war between Russia and Ukraine
Effect: Mustard seed crops are in short supply 

There are a lot of reasons behind the mustard shortage, including increased costs, environmental instability, and global politics. According to USA Today, the “simple answer” is that drought conditions in the Northern U.S. and Western Canada, both of which are primary growing regions for the mustard seed, have killed off crops.

Mustard ©Sunvic / Shutterstock.com Mustard ©Sunvic / Shutterstock.com

Producers all over the world are struggling. France, for example, has a mustard shortage because of the Russia-Ukraine war. And, supply problems also don’t help, as they’ve combined with other causes to create the perfect storm.

13. Tofu

Cause: Meat is in short supply, so there is a huge demand for tofu
Effect: Tofu producers struggle to keep up with the demand 

According to Taste of Home, tofu is an item you “might not find” on the shelves of your grocery store in 2023, and this has to do with good ol’ supply and demand. As chicken and beef suppliers had to slow production in 2021 and 2022, demands for alternative protein sources went up.

Tofu ©KatMoy / Shutterstock.com Tofu ©KatMoy / Shutterstock.com

Tofu and other plant-based products saw a “huge rise in demand,” says JPG Resources. Producers struggled to keep up with the clamor, and, as a result, tofu has been hard to find at many major stores. 

14. Sesame Seeds

Cause: Natural disasters, such as flooding, have destroyed crops
Effect: Major producers in India have struggled to supply sesame seeds 

There are sesame seed producers all over the world, with India being one of the largest manufacturers. You might have noticed a sesame shortage in 2022, and you’ll probably notice it in 2023, too.

Sesame Seeds ©Guitarfoto / Shutterstock.com Sesame Seeds ©Guitarfoto / Shutterstock.com

India, one of the largest sesame growers in the world, has suffered from many floods in recent years, one of which nearly destroyed all of the annual crops in the country. As a result of these heavy rains, India has had to halt much of its production, causing a global sesame shortage.