Quick! Run out and stock up on beer!
Pretty soon gas prices won't be the only reason to think twice about another beer run. Turns out that the cost of barley is rising fast and an increase in barley prices could translate to an increase in beer prices too.
It also doesn't help that production numbers were already down, energy prices already up, and the cost of raw material (like aluminum) also up. In fact, several breweries have already raised prices due to the raw material costs, however, you might not have noticed since distributors have been eating the cost.
Those price increases aren't always felt in consumers' pocketbooks. Distributors and retailers frequently eat the costs themselves. But with prices shooting up quickly, that could soon change.
Bernstein Research analyst Robert van Brugge forecast that this year's barley price increases will impact brewers' cost of goods sold - or the cost of the raw materials used in production - by 1 to 2 percent in 2007.
The analyst said he believes brewers will be forced to pass along some of that increase this year to consumers.
So run out and stock up! It's recommended that most canned beer should be consumed within 3 months of bottling. However some strong ales can be stored in the fridge for up to 6 months. Now, I'm not saying you can't drink it after 3 months, but it's definitely going to taste better if you drink it before.