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Posts Tagged ‘food prices’

The Coming Food Shocks: Background

May 24, 2011 Comments off

geopoliticalmonitor

The food crisis of 2008 was never resolved; it was merely put on hold by a global financial meltdown. Now, any serious discussion on a sustained economic recovery should take for granted that food prices will once again spike, bringing about a cascade of geopolitical consequences.

The sheer number of upward pressures on food prices makes it difficult to imagine a scenario that doesn’t have them spiking rather dramatically over the next few decades. This will result in not only an increase in global poverty, devastating some of the most vulnerable populations in the world, but it will also put stress on the new social contract that has emerged in certain rising powers- particularly the development-for-autocracy consensus in Read more…

Global food inflation hits hemp seed, coconut oil and other superfoods: Here’s why it’s happening

May 23, 2011 Comments off

naturalnews

Food inflation is hitting the superfood industry right where it hurts — in the wallet. Thanks to several factors you’ll read about here, prices on hemp seeds, hemp oils, coconut oil and other superfoods are set to skyrocket beginning in just a few days. One of the largest superfood suppliers in the USA, Nutiva, has announced an 11% price increase coming May 27th, and that may be just the beginning of an accelerating trend in steady increases.

In anticipation of this price increase, we’ve taken on a huge inventory of Nutiva’s Certified Organic Hemp Seed and Hemp Oil at the old prices, and we have a generous supply available to NaturalNews readers who want to beat the price increase (see below).

Why hemp and coconut oil prices are heading into the stratosphere

In a letter sent to us by Nutiva, founder John Roulac explains that the price of coconut oil has doubled in the last six months. While coconut oil suppliers are able to absorb some of this cost in the short term, they cannot do so on a permanent basis. This means that the prices consumers pay for coconut oil are headed sharply higher.

Impacting hemp seeds and hemp oil, the price of crude oil (up 30% or more over the last few months) adds to the cost of transporting these foods. Remember, thanks to the completely idiotic and utterly anti-American stance of the DEA, President Obama and most of the U.S. Congress, it is illegal to grow hemp seeds in America, Read more…

USDA: Food prices to rise further during rest of 2011

May 13, 2011 Comments off

radioiowa

World instability+Food Prices+Oil+Floods+Droughts+Inflation=A Hungry and Broke You/Me

A federal study finds food prices will take a bigger bite out of Iowans’ food budgets this year. Rick Volpe, an economist with the U-S Department of Agriculture, says a trip to the grocery store will mean either less food in your cart or less money in your wallet.

“It will be hard to pay roughly the same amount you paid in 2010,” Volpe says. “There is no question that the food budget is going up for a lot of households.” Volpe says the highest price hikes will be seen in the supermarket’s meat and dairy cases.

“We’re forecasting a seven-to-eight-percent increase in retail beef prices and six-and-a-half to seven-and-a-half for pork,” he says. “Your milk, yogurt and cheese, we are forecasting about a five-percent increase.”

Volpe says there are several reasons for the hike in food prices but the rising cost of fuel is foremost. Triple-A-Iowa says the Read more…

QE2 Is Damaging The Economy And Reducing GDP Growth

April 27, 2011 1 comment

businessinsider

QE2 is going to go down as one of the worst monetary policy initiatives in the history of the modern Federal Reserve era. On almost any metric applied, QE2 ends up not only falling well short of its proposed goals, but actually turns certain metrics like GDP growth negative compared with the prior quarter, and heading in the wrong direction.

Costs Eat into Corporate Profits = No Hiring

Analysts all over Wall Street are starting to revise their 2nd quarter GDP forecasts down, and some like Goldman Sachs have made several downward revisions as higher input costs due to a weak dollar are creating an additional burden on businesses and consumers and thus slowing economic growth.

A weak dollar (Fig. 1) to a point can help exports, but an extremely weak dollar which in combination with QE2 liquidity juicing up commodities even further, turns out to be a net negative on the economy, and risks sending the Read more…

Europe is facing the worst drought in century

April 26, 2011 Comments off

thewatchers

Traditional Easter fairs in the east and the north of the Netherlands have been cancelled because of the risk of fires posed by the extraordinarily dry weather affecting northern Europe....

Traditional Easter fairs in the east and the north of the Netherlands have been cancelled because of the risk of fires posed by the extraordinarily dry weather affecting northern Europe. In the eastern half of the country, one of Europe’s biggest traders, outdoor family barbecues, smoking and camp fires are a strict no-no.

In the Swiss canton of Zurich, officials began moving trout this week from the river Toess before their habitat dried up. This year threatens to bring “one of the most significant droughts since 1864,” the year when records began in Switzerland. The drought in western Switzerland over the last 12 months is as severe as those recorded in 1884 and 1921. Several cantons have also imposed bans on lighting fire in and close to forests. A grass shortage could also lead to a Read more…

World Bank president: ‘One shock away from crisis’

April 18, 2011 Comments off

bbc

The president of the World Bank has warned that the world is “one shock away from a full-blown crisis”.

Robert Zoellick cited rising food prices as the main threat to poor nations who risk “losing a generation”.

He was speaking in Washington at the end of the spring meetings of the World Bank and International Monetary Fund.

Meanwhile, G20 finance chiefs, who also met in Washington, pledged financial support to help new governments in the Middle East and North Read more…

Gas prices surge toward $4, threaten economic recovery

April 16, 2011 3 comments

lakelandtimes

Click Map to enlarge

Gas prices continued to gallop toward $4 a gallon early this week, both in the area and across the state, as prices in Minocqua and Rhinelander hit $3.99 on Tuesday, even as prices for crude oil eased, at least temporarily.

Across the nation, according to GasBuddy.com on Wednesday morning, the national average price for a gallon of regular gasoline stood at $3.79; in Wisconsin, the average was $3.87. Four states, including Illinois, have seen prices already surpass $4.

Crude oil prices moved downward Tuesday from $113 a barrel – the highest price since September 2008 – to $106, a Read more…

World Bank: Food prices have entered the ‘danger zone’

April 15, 2011 Comments off

telegraph

Robert Zoellick, World Bank president, said food prices are at “a tipping point”, having risen 36pc in the last year to levels close to their 2008 peak. The rising cost of food has been much more dramatic in low-income countries, pushing 44m people into poverty since June last year.

Another 10pc rise in food prices would push 10m into extreme poverty, defined as an effective income of less than $1.25 a day. Already, the world’s poor number 1.2bn.

Mr Zoellick said he saw no short term reversal in the damaging effect of food inflation, which is felt much more in the developing world as packaging and distribution accounts for a far larger proportion of the cost in the advanced economies.

Asked if he thought prices would remain high for a year, Mr Zoellick said: “The general trend lines are ones where we are in a danger zone… because prices have already gone up and stocks are relatively low.”

Rising prices have been driven by the changing diet of the ballooning middle classes in the emerging markets. “There is a demand change going on, with the higher incomes in developing countries. People will eat more meat products, for example, that will use more grain.

“I am not suggesting that the improved diets in the developing world are the source of the problem but it means it takes longer to Read more…

BRICS demand global monetary shake-up, greater influence

April 14, 2011 Comments off

yahoo.com

(L-R) India's Prime Minister Manmohan Singh, Russia's President Dmitry Medvedev, China's President Hu Jintao, Brazil's President Dilma Rousseff and South African President Jacob Zuma attend a joint news conference at the BRICS Leaders Meeting in Sanya, Hainan province April 14, 2011. The development banks of the five BRICS nations agreed in principle on Thursday to establish mutual credit lines denominated in their local currencies, not in dollars. REUTERS/How Hwee Young/Pool

SANYA, China (Reuters) – The BRICS group of emerging-market powers kept up the pressure on Thursday for a revamped global monetary system that relies less on the dollar and for a louder voice in international financial institutions.

The leaders of Brazil, Russia, India, China and South Africa also called for stronger regulation of commodity derivatives to dampen excessive volatility in food and energy prices, which they said posed new risks for the recovery of the world economy.

Meeting on the southern Chinese island of Hainan, they said the recent financial crisis had exposed the inadequacies of the current monetary order, which has the dollar as its linchpin.

What was needed, they said in a statement, was “a broad-based international reserve currency system providing stability and certainty” — thinly veiled criticism of what the BRICS see as Washington’s neglect of its global monetary responsibilities.

The BRICS are worried that America’s large trade and budget deficits will eventually debase the dollar. They also begrudge the financial and political privileges that come with being the leading reserve currency.

“The world economy is undergoing profound and complex changes,” Chinese President Hu Jintao said. “The era demands that the BRICS countries strengthen dialogue and cooperation.”

In another dig at the dollar, the development banks of the five BRICS nations agreed to establish mutual credit lines denominated in their local currencies, not the U.S. currency.

The head of China Development Bank (CDB), Chen Yuan, said he was prepared to lend up to 10 billion yuan to fellow BRICS, and his Russian counterpart said he was looking to borrow the yuan equivalent of at least $500 million via CDB.

“We think this will undoubtedly broaden the opportunities for Russian companies to diversify their loans,” Vladimir Dmitriev, the chairman of VEB, Read more…

Fires and Drought Trouble Texas and Other US Plains States

April 12, 2011 Comments off

voanews

A volunteer firefighter fights a fire which began outside Marfa, Texas, and was carried by winds to nearby Fort Davis, April 9, 2011

Photo: Alberto Tomas Halpern

A volunteer firefighter fights a fire which began outside Marfa, Texas, and was carried by winds to nearby Fort Davis, April 9, 2011

Drought conditions and high winds have fueled destructive wildfires in northern Mexico and the southern U.S. plains states, especially Texas, where dozens of homes have burned in recent days.  The dry weather is also having an impact on agriculture that is likely to cause some food prices to rise.

Fast-moving wildfires scorched around 32,000 hectares of land in the west Texas ranch country around Fort Davis on Saturday and Sunday, killing cattle and horses, and leaving pastures charred and smoky.  The fires reached populated areas near Fort Read more…