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June 19, 2007

Food Prices Rising

Topics: National News

Just in case you haven't already noticed - Beef prices are up. So are the costs of milk, cereal, eggs, chicken and pork, and just about everything else related to food ...

food_costs_topper.jpg

Indeed, food costs are rising, with higher prices being seen not only at grocery stores, but also at restaurants:

A combination of forces, including bad weather, heightened demand for corn to produce ethanol, strong buying from consumers and higher energy costs, is boosting prices.

"I don't see the current commodity pricing in agriculture ... turning around and dropping quickly," says Michael Swanson, agricultural economist at Wells Fargo in Minneapolis.

More at USA Today.

Although some blame corn and ethanol production, others argue the high costs are from marketing and transportation costs.

Not knowing who to blame, I checked with Intellipuke:

Anyone who is surprised by this price "surge" should have a read a column by British Prof. George Monbiot that we posted at Free Internet Press when biofuels were first mentioned by Bush. Monbiot not only warned of the price increases caused by growing more corn, but warned that the rush to plant biofuel crops would increase the rate of global warming by decreasing the number of trees to plant biofuel crops instead. He also warned of food shortages as farmers grow more biofuel crops than other food crops. He also said it puts humans in competition with vehicles for food products. Thus far, Prof. Monbiot's column has been right on target.
You can read Prof. Mongiot's column here: If We Want To Save The Planet We Need A 5-Year Freeze On Biofuels - "....oil produced from plants sets up competition for food between cars and people. People - and the environment - will lose.

Posted by Abdul at June 19, 2007 12:42 PM



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