Following a year of supply chain issues and inflation, Thanksgiving dinner could look a little different—and more expensive—this year.
Consumer Reports found that turkey prices could go up anywhere from 10 to 15% this holiday season, while The New York Times wrote that this year’s Thanksgiving feast could be the “most expensive meal in the history of the holiday.”
And price isn’t the only change. Here’s a closer look at what to expect:
SUPPLY CHAIN EFFECTS ON AVAILABILITY AND COST
“Most retailers put in their Thanksgiving orders many, many months in advance of the holidays and production and harvesting has been in full force since,” said Anne-Marie Roerink President of 210 Analytics. “So, while I do not expect to have a turkey shortage, the multitude of ongoing supply chain issues will make their impact on Thanksgiving dinner.”
The effects of COVID-19, labor shortages, transportation issues, and lack of packing materials could all have an impact, Roerink said. Additionally, high feed costs are affecting production inputs. “Feed costs are due to labor and transportation constraints as well as varying harvest levels and, importantly, oil-focused demand that is competing with livestock feed inputs,” she added.
Back in August, The Food Institute reported that Thanksgiving turkeys could be in short supply, with companies such as Cargill and Shady Brook Farms reporting supply struggles.
Recent IRI data also suggests that shoppers should prepare to make substitutions, given supply chain risks in key categories. Product availability in the whipped toppings, liquid gravy, bakery pies and frozen pie/pastry shells categories were between 5 and 13 percentage points lower this week than the same time last year.