Drought could increase popcorn prices - wave3.com-Louisville News, Weather & Sports

Drought could increase popcorn prices

LOUISVILLE, KY (WAVE) – Although there has been late summer rain across the Midwest, the popcorn crop is in jeopardy due to the extreme summer drought.

The drought has taken its toll on popcorn. While many may not realize that popcorn and corn are two different crops, both have been hit hard by the dry, hot summer.

One business in Indianapolis said they are paying nearly double for popcorn kernels. Retail prices have jumped this summer from about $20 for a 50 pound bag to $30 or higher.

Most of the U.S. share of the popcorn is grown in the Midwest and Indiana is in the top spot. The hot weather and drought conditions may mean that consumers will see an uptick in popcorn prices at stores especially during the holiday season.

Popcorn is a huge fundraiser for many groups including the Boy Scouts who said they purchased their popcorn early so their prices should remain about the same.

Copyright 2012 WAVE News. All rights reserved.

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