And it appears that hop production is up. Reading the report, you’ll notice that crop yield is virtually identical, but the number of acres harvested has increased. A 27% increase from 2007 is nice, but it’s hard to determine what effect it will have on actual hop prices. As with barley, the cost to harvest and transport the crops to market is still rising. Also, the demand for American hops is still increasing. Since hop vines take over three years to begin full production, it’s possible that past shortages motivated farmers to increase their production and we’ll continue to see annual improvements.
The Hallertau region is harvesting right now as well. Hopefully the Germans have had an equally good year.
Report courtesy of Clarence Beeks.