Start Thinking of Alternatives to These 6 Foods in 2023 — They’ll Be In Short Supply
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.
See: States Extending Additional Emergency SNAP Money in January
Find: 10 Things To Stop Buying in 2023
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.
Take a Look Back: 2022 Year in Review
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 exportation 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.
Explore: Kansas Residents Pay Less for Groceries With Revised 2023 Food Tax
Learn: How Financial Experts Are Approaching Stocks in the New Year
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.
More From GOBankingRates
- 5 Best Southern Cities To Retire on a Budget of $1,500 a Month
- Explore GOBankingRates' 2023 Banking Resource Center
- The 10 Best Rewards Credit Cards for 2023
- Experts: 4 Safest Places To Keep Your Savings
