Ocean Spray CEO Tom Hayes told Bloomberg Radio that consumers might have to make their own fresh cranberry sauce due to a can shortage and snarled supply chains that will leave some supermarket shelves that usually stock Ocean Spray items bare.
He said consumers who prefer “iconic cranberry jellied sauce in a can” may not get what they want. People may have to “make cranberry sauce from fresh berries,” Hayes said.
Hayes suggested that consumers should “plan early and make sure you get to the grocery store. It will be a happy Thanksgiving, but you have to demonstrate more flexibility than you have in the past.”
Labor shortages, rising freight costs, upward pressure on wages, and port congestion add to the overall Thanksgiving dinner costs, up some 14% from a year ago amid soaring food inflation that shows no signs of abating.
It’s not just cranberries: turkey supplies in cold storage are at their lowest point in years ahead of Thursday’s holiday. This means Thanksgiving will be the most expensive ever.
And, of course, the monetary wonks at the St.Louis Fed have chimed in on this topic and advised everyone to switch from traditional poultry to plants to avoid soaring food costs.
From the FRED Blog: A Thanksgiving dinner serving of poultry costs $1.42. A soybean-based dinner serving with the same amount of calories costs 66 cents and provides almost twice as much protein https://t.co/qmyjwZd7aU pic.twitter.com/pHv3ZR9o6u
— St. Louis Fed (@stlouisfed) November 20, 2021
The CEO of Ocean Spray is right, “be flexible” this holiday season because everything that consumers once thought was readily available is not so much anymore due to supply chain woes.
Wed, 11/24/2021 – 22:00
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Author: Tyler Durden