The supply of hops depends on the cultivated area, growing conditions and cultivated variety, while the demand for hops depends on the amount of produced beer, the level of hop use, brewing trends, the stock of hops at retailers and brewers, and the level of brewing technology. The thesis analyzes the hops market in the years 1990–2020. The first period, from 1990 to 2006, is characterized by a constant demand for hop bitters, while their supply fluctuates due to weather influences, so a markedly inelastic demand with a variable supply is observed, which is manifested in a shortage and surplus of hops in all years. The supply in 2004 and 2006 was very low due to the severe summer droughts, the market experienced a large shortage of hops, so the market prices rose, and the demand increased to a record. In the years 2009-2012, a surplus of hop bitters appeared on the market, during which time the global economic crisis also occurred. The supply has decreased during these years, which is partly also a result of the reduction in the size of the total cultivation areas. 2013 saw a turnaround in demand for hoppy bitters, coinciding with the growing development of the boutique beer industry, which began in the US and has evolved into a new niche market worldwide. From 2013-2019, there was a period of higher demand for alpha acids than there was supply in the market. In 2020, due to the Covid-19 pandemic, the production of beer fell drastically, and the global surface area of hops in use increased, contrary to expectations, which for the movement of hop prices in the short to medium term may mean an excess of supply and lower purchase prices of hops.
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