Impact of craft breweries on hop farmers/vendors

Somewhat relevant to the Schumpeter article on understanding capitalism in light of an ever-changing market and in light of the effect on the market of new types/qualities of products.  Craft brewers committed to buying too many hops from hops suppliers this past year, because while their estimates were based on previous years’ double-digit growth figures, growth has slowed dramatically this year.  Note more generally some of the facts mentioned in the article about the impact of craft beer on farmers: this wave of brewer-entrepreneurs has changed the worldwide demand for hops and caused acreage devoted to hops in the U.S. to nearly double over the past five years.

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