A Bitter Harvest: Food Prices Keep Climbing

In economics/money, food/drink, Foreign Affairs on April 23, 2008 by Editor Z

The rising cost of food is an issue that as of now has been overlooked here in the United States by politicians. However the increase in food prices in addition to oil that costs over $100.000 a barrel, has battered the economy not just nationally but globally. Lands where food has long been scarce and a much coveted resource, and the darkness of poverty is abundant, the crisis is even more evident. There have been reports of food riots, and instability in some places like Haiti, as food has to be guarded by armed guards.

Times of London:

Experts told the Times yesterday that prices of rice, wheat, and vegetable oil would rise further. They also forecast that high prices and shortages– which have caused riots in developing countries such as Bangledesh and Haiti— were here to stay, and that the days of cheap produce would not return. Food price inflation has already pushed up a typical family’s weekly shopping bill by 15 percent a year.

The reasons for the increase in global food prices is manifold. Skyrocketing fuel prices make it harder to transport produce to markets, and the ethanol scam, where we are using more and more of our corn supply for fuel that despite the promises and sales pitches of politicians, that ethanol is not an effective alternative fuel source to alievate our addiction to foreign oil nor will it likely be a credible cleaner source. After all it takes oil to make ethanol.

Here is some more on the ethanol farce.



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