TROY, Ohio, July 24 (UPI) -- Movie theater owners like Ohio resident Alan Teicher are raising the cost of popcorn as the price of corn, some of which is used in ethanol, grows nationwide.
Teicher, a theater owner in Troy, Ohio, said he increased the cost of popcorn buckets in his movie venues in anticipation of another rise of popcorn manufacturing costs fueled by the booming ethanol industry, the Dayton (Ohio) Daily News said Tuesday.
"That's the largest increase I've ever heard of," Teicher said of a predicted 13 percent increase in the cost of popcorn. "We can only absorb so much of these increases before we pass them on to the customer."
The rise in ethanol costs directly leads to increased popcorn costs due to the fact that popcorn is always priced above the cost of field corn. But with field corn being used to make ethanol and the ethanol industry booming, farmers are increasing popcorn costs to meet that rising demand, the Daily News said.
Add to that that there's been more care needed to raise popcorn because of this summer's drought conditions throughout the region and the movie mainstay becomes a pricey commodity, the newspaper said.