106 comments on Death Rates and Food Prices
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106 comments on Death Rates and Food Prices
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SS - you are a machine
I haven't read this yet, but wanted to reiterate that since your Fermenting the Food Supply piece last week, which pointed out the disparity on the elasticities of driving/eating, grain prices are up OVER 10%. Today at noon EST , and the same on Friday, all 3 grains are limit up, ( beans 50c a bushel, corn 20c and wheat 30 c). Irrespective of whether this is due to commodity hedge funds piling on board, we may see your food/fuel hypotheses unfold in real time, and quickly.
The sliced lite wheat bread I love to get at Krogers, has been $1.00 per 16oz loaves for years; however, this week it shifted to 4 for $5.00.
A 25% hike in price that actually hits home.
I suspect I have purchased my last dollar loaf of bread...
If you keep track of the retail price of wheat flour, you'll see that you've had a delay in the increase in price. I make my own bread and flour has been around $0.50/lb since Thanksgiving. You could usually find it on sale for $0.20/lb before that. Ho hum.... At least I don't feel so bad about stretching it with organic rye flour....
I notice that Europe is moving quickly to ban imports of some biofuels. I mentioned this on the prior article but it looks as though they have worked out their draft. The main concern is with preserving forests and grasslands but I expect that they'll move against displacing food soon, probably by going after nitrogen inputs. It is amazing what contortions the WTO puts us through.
Chris