Bah humbug! Christmas tree prices are soaring as demand rises, but supply dwindles. In North America, a continent-wide tree shortage is taking root thanks to a declining number of Christmas tree farms.
The number of US farms fell sharply during the 2008 financial crisis and has continued to decline – so much so that 96% of the Christmas trees sold in the US come from Canada. But Canadian farms took a hit this summer from droughts, floods, and wildfires, and Canadian farmers also say fewer young people want to take over their tree businesses when they retire.
Christmas trees take eight to 10 years to grow, making it difficult to start new farms and even harder to turn profits. Inflation is raising the cost of fertilizer and fuel, and these costs are being passed on to consumers.
So if you’re wondering why the price of cheerful boughs is making you feel like the Grinch, blame climate change, a lack of farmers, inflation, and … well, Canada.