by Jenise » Thu Apr 15, 2021 5:10 am
From today's Wall Street Journal:
A ketchup shortage vexing restaurants has fueled a secondary market—an underground trade in coveted ketchup packets.
Diners with the good fortune to have a stash of saved ketchup packets are listing them on eBay Inc. and Facebook Inc.’s Marketplace to make a buck off the pandemic’s latest supply-chain constraint.
Lindsey Cohen, a retiree from Indianapolis, logged onto eBay and posted 20 Heinz ketchup packets for sale for $8 after The Wall Street Journal reported April 5 on restaurants’ squeezed ketchup supplies. Ms. Cohen, who said she amassed her collection during fast-food stops on a recent road trip, typically uses eBay to clear clutter from her house but thought hawking ketchup sounded like fun.
About 12 hours later, the packets sold. “I’ve never gone so far as to sell condiments,” said Ms. Cohen. With ketchup, she said, “I jumped on the bandwagon.”
The ketchup crunch is gripping U.S. restaurants just as they as they are reopening dining rooms closed by Covid-19. Costs for the tomato spread have risen, single-serve packets are in short supply, and restaurant chains are canvassing distributors to locate Heinz, the industry’s top brand.
The pandemic forced full-service restaurants to turn to packets instead of their usual bottles out of sanitary concerns, fueling a spike in demand and straining supplies. Kraft Heinz Co. has put priority on supplying fast-food and drive-through restaurants, whose sales recovered faster than those of sit-down restaurants so far.
Many eBay sellers said they heard news of the shortage and realized they needed to strike while the iron, or grill, was hot. Some recalled how individual squares of toilet paper sold on eBay during the shortage of that staple in the early days of the pandemic; they didn’t want to miss out on a potential ketchup rush.
It’s not exactly an efficient market. The prices in dozens of ketchup-packet listings posted online range all the way from a quarter to $5 each, the latter in a lot of 20 packets for $100. Each has about a third of an ounce of ketchup.
Kent Reining, a Facebook Marketplace seller from Danville, Ill., offered packets for $4 each, or a bargain price of 20 for $50.
“There’s a shortage,” he wrote. “Don’t try to lowball me, I know what I’ve got.”
My wine shopping and I have never had a problem. Just a perpetual race between the bankruptcy court and Hell.--Rogov