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Power Cuts At Dutch Greenhouses, Worlds 2nd Largest AG Exporter, Traffic Plummets NYC Restaurants
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Soaring gas and electricity prices are getting worse by the day, forcing a vast network of Dutch glasshouses to limit output or go entirely dark. This could have a devastating impact on food supplies and boost prices ahead of the holiday season. This comes at a time when global food prices are already at a record high.
The Netherlands has become an agricultural giant and is the world's second-largest exporter of food by value, primarily thanks to its 25,000 acres of greenhouses that supply Europe with vegetables like cucumbers, tomatoes and bell peppers, and flowers. In 2020, Dutch exports of greenhouse-produced farm products amounted to $10.7 billion, but this year could be much less as expensive nat gas and power prices result in some operations going dark.
If you caught yesterday's episode we brought up how the exact same thing was happening in other countries.
NYC restaurant industry is on it's last legs, an interesting story is pre-crisis O’Donoghue’s Pub and Restaurant was a successful business that has been open for 10 years in Times Square, Manhattan. Fergal Burke, the owner of O’Donoghue’s noticed that his business has seen “a massive drop,” since the new rules came into effect.
“We don’t have the money here to survive without the help of our landlord, [who] has been very supportive and has been giving us breaks on the rent, but without our landlord, we would not be in business,” Burke also said He needed to hire another person to be at the door checking, which increased his expenses.
Comparing the clientele from before new rules which kicked in about two weeks ago, “Our business is definitely down 50, I’m going to say 60 percent,” Burke said with a somewhat downhearted tone. “There’s just not people coming into the restaurant, they have the fear of being asked for *******.”
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