Just in: A Pumpkin Shortage! Will Halloween be ruined?
I read in the USA Today, that due to the destruction caused by Hurricane Irene, the Northeast is facing a dearth of pumpkins. One farmer reported that over 20,000 of his pumpkins washed into Lake Champlain in New York. Pity.
This farming disaster has great ramifications on both the producer and the consumer. The rain damage from Hurricane Irene causes the supply curve to shift to the left, and with the increased demand for pumpkins during the holiday season, the price of each pumpkin increases. As a result, the consumer surplus shrinks, therefore putting a damper on his holiday.
Furthermore, if the price of pumpkins increases in the Northeast, I speculate that the Midwestern farmers will truck their crops east as northeastern farmers cannot produce enough pumpkins for the region. This could put a damper on the Pumpkin Roll.
This pumpkin shortage will cause inefficiency in my household. My father is a lover of the Heinen’s seasonal Pumpkin Roll dessert. He looks forward to the six weeks in which my mother would normally purchase a weekly roll. However, since he is not the shopper in the family, and my mother is a tightwad, she will NEVER authorize the purchase of a pricier pumpkin roll. Pity.
The unfortunate rise in pumpkin prices will be felt in my household as well. It is especially inconvenient for a decrease in the pumpkin supply now, as according to agriculture officials, demand is at an all time high. Prices will, surely increase as demand cannot be met, causing a shortage and increased prices. Additionally, as you mention, having to transfer pumpkins from the Midwest to the Northeast will raise prices with gas prices as high as they are.
ReplyDeleteWith October just around the horizon, I can certainly discern why demand for pumpkins has exponentially increased. Compound that with a supply shortage and price undoubtedly rises to an exorbitant level. We can only hope the supply curve of the pumpkin market shifts to the right in order to have a successful Pumpkin Roll this year!
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