Get ready for higher food prices
Warnings of higher food prices headed for American supermarkets and restaurants were swallowed easily across much of farm country Wednesday.
The big gulp came when the U.S. Department of Agriculture reported that global demand had pushed U.S. corn supplies to their lowest point in 15 years.
The price of corn, which has doubled over the past six months, affects most food products in supermarkets. It’s used to feed the cattle, hogs and chickens that fill the meat aisles.
Corn prices have risen over the past six months from $3.50 a bushel to nearly $7.:eek:
“Ethanol is a factor, but it’s not the driver,” he said.
Johnson said the declining value of the dollar not only has fueled greater agricultural export demand, but also has driven up the price of oil. That, in turn, has propelled higher prices for corn-based ethanol.
http://www.omaha.com/article/2011021…er-food-prices
Blame it on bad weather, Israel ,not drilling here,Muslims,terrorists or any other boogie man or event but when the supply of money goes up…the value goes down and it takes more to purchase less as a consequence…just like when any other commodity; supply and demand and government spending, more dollars in the economy ;mixed with things like bad weather, geo political circumstances in the Middle East and emerging markets/rising populations; means higher;much higher; prices from the gas tank to the produce aisles to the meat sections.
Thank you governments everywhere, thank you very much; for ****ing us royally!