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| Hello, N2K’ers! | This week, our world famous News HaikuTM competition focuses on news that Albania’s prime minister has “hired” an AI-generated “Minister” (a.k.a. a robot) to root out corruption. Send me your haiku by Thursday at noon Eastern for consideration. Now let’s talk about the news you Need2Know, eh? | —Matt Davis, Need2Know Chedditor | | News You Need2Know | | If you like this newsletter, why not forward it to a friend so they can subscribe here? If you don’t, why not forward to an enemy? Thank you! |
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| | What’s the stock market up to, eh? | $SPX ( ▼ 0.13% ) $DJI ( ▼ 0.27% ) $NDX ( ▼ 0.07% ) | | Companies mentioned in today’s newsletter | $MCD ( ▲ 0.4% ) $NVO ( ▲ 2.84% ) | | Why matcha prices are going through the roof | | Matcha lovers worldwide are bracing for significant price hikes as the powdered green tea faces supply issues and surging demand. Retail sales of matcha in the U.S. have soared by 86% over the past three years, driven by social media trends and its various health benefits. Now a combination of poor harvests in Japan, labor shortages, tariffs, and rising production costs are straining the market. | “People should expect an enormous increase in the price of matcha this year,” said Aaron Vick, senior tea buyer at G.S. Haly. With Japanese matcha prices rising up to 75% for high-grade varieties, he predicts a “tough adjustment period” for loyal fans. | Meanwhile, attempts to grow China’s matcha market have shown promise. “We are seeing more interest in Chinese matcha because of changing perceptions,” said Jason Walker, marketing director at Firsd Tea, hinting that Chinese producers are stepping in to fill gaps left by Japan. | Despite price hikes, matcha's cultural appeal remains strong. "It’s not just a tea bag in water. It’s a whole experience," said Melissa Lindsay, a daily matcha drinker from San Francisco. However, tea supplier Josh Mordecai wonders if this is a temporary trend, cautioning, “Nothing stays on social media that long.” | The editor of today’s newsletter started drinking matcha in 2017, and “was really into matcha its first go-around.” Now, she just drinks “like coffee or whatever.” | Will you continue drinking matcha if it’s 75% more expensive? Let us know in today’s poll below |
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