The Ukraine and Russia conflict will affect prices of items. According to an economics expert, the price of beer will go up because Ukraine and Russia are top suppliers of barley.
The economic expert feels as if beer suppliers may have to switch up their products because of the conflict in Ukraine and Russia. Already dealing with inflation, this could be tough on businesses.
Joe Krier from IIWII LLC in Jacksonville said between Ukraine and Russia, they produce 30% of the barley in the world.
Ukraine alone produces 16% of the corn in the world.
“You know, I think it’ll end up being actually a change of habits here. I just think that beer companies, you know, they’ve already been shifting to other products. And this will probably hasten that to a certain extent,” said Krier.
“I was looking at some other things like shipping. And certain parts of shipping in the Black Sea prices have gone up from $10,000 per one of those 40 foot containers you see on a truck to $40,000 right now. A 2% price increase across the board on all goods and services,” said Krier.
We visited Bottlenose Brewery on the Southside of town, and Xandria Williams, a bartender, said she does expect to see an impact because of the conflict overseas.
“We do have suppliers that go through that area and can’t now, so it’s difficult,” said Williams.
She said prices are already going up because of inflation at Bottlenose, so she does expect the conflict to impact prices as well.
“We’ve already experienced prices going up, as far as the products we need to buy for those things.