Hops Shortages Means Craft Beer Prices Are Up

If craft beers are your go-to drink, you may want to stock up. Prices could soon go way up as independent brewers face a potentially serious shortage of hops. Last summer’s hot and dry conditions apparently weakened the European hop harvest, and craft beers use a lot of hops. Industry sources say prices of some hop varieties of hops have risen by up to 50 percent, while others are up to five times more expensive or simply not available at all. Most brewers have contracts with hop growers that protect them from sudden price surges, but future supply is at risk. The scarcity may also get worse as big beer brewers such as Anheuser-Busch, InBev, and SABMiller buy up craft brands and ramp up their production. (Time)