Dammit climate change!!!

[jswordy]

The price of beer could rise sharply this century, and it has nothing to do with trends in craft brewing. Instead, a new study says beer prices could double, on average, because of the price of malted barley, a key ingredient in the world's favorite alcoholic drink.

By projecting heat and drought trends over the coming decades, a team of researchers in China, the U.K. and the U.S. found that barley production could be sharply affected by the shifting climate. And that means some parts of the world would very likely be forced to pay much more for a beer.

In Ireland, a leading beer-consuming nation, prices could triple, the study says. Other countries would most likely drink less beer, as their farmers are expected to export more barley to countries that would struggle to grow enough barley under hotter, drier conditions.

https://www.npr.org/2018/10/16/6577...4okigMvfW7RNY6LGQVZsH4LA4FSLE-t_3K09wRm7AN0gQ

 

[Boatboy24]

My prediction: with or without climate change, barley prices will triple in this century and then some.

 

[sour_grapes]

My prediction: with or without climate change, barley prices will triple in this century and then some.

I am sure you know this, but I am thinking they meant in real terms!

 

[BernardSmith]

apologies for piggy backing on your post sour-grapes - but just in case some people don'tcan can is item at the higher price (because my wages have risen more than the increase in price). So prices are understood not in simple terms of dollar prices but in terms of some other fixed measure that you can use to compare prices over time. Could be average wage, for example. So a price that triples in a period of time might in fact be falling if the true price means that it is cheaper. And we know that over time incomes (at least in the past ) have been steadily rising: how many hours of work did it take your grandparents to rent/buy their home compared to the number of hours you need to work to buy/rent a home of comparable size and location. But their home may have cost a few thousand dollars and yours might have cost a few hundred thousand..
,

 

[Boatboy24]

I am sure you know this, but I am thinking they meant in real terms!

Yes, yes I do. Say what you mean, mean what you say. I ASSUME that's what they meant, but they didn't specify. Which leads me to question.

But mathematically, I don't see how a 3-17% decrease in yield results in a tripling of prices. Are we throwing supply/demand curves out the window?