Image of the Day: Popcorn Prices Are Popping Up
The 2012 historic drought on the Midwest has had myriad impacts, including sending popcorn prices soaring this summer, with buyers small and large scrambling for their supplies, according to the Huffington Post.
With more than 80 percent of U.S. popcorn production consumed domestically, Midwestern farmers are eager to meet the demand. Usually, they're successful, but only if temperatures are mild and the corn can be planted in the marginal ground surrounding the staple crop, The Huffington Post said.
But this summer's record high temperatures and weeks without rain have caused the crops to whither and prices in the wholesale market to spike, with grocery store prices likely to follow. Analysts, however, believe popcorn prices in theaters are likely to be exempt from the inflation, which is a huge relief, considering that those prices are already astronomically high.