Consumers can expect to see a jump in prices for pasta, meat, vegetable oil and many other grocery items in the coming months as a pair of new government reports forecast on [Aug. 11] that a brutal mixture of heat, drought or flooding has taken a toll on the corn, soybeans and wheat grown on American farms.
Futures prices for those important crops jumped on [Aug. 11], and commodities experts said that would lead to higher prices for manufacturers and consumers.
“The message, based on today’s report, is these higher costs should not be expected to abate any time soon,” said Bill G. Lapp, president of Advanced Economic Solutions, a commodity consulting firm that works with restaurant companies and food manufacturers. “It implies higher cost forthcoming and subsequent margin pressure, and at some point the need to increase prices at the retail level or on the menus.” ...
Wednesday, August 24, 2011
Going To Get Hungrier Out
If you are not paying attention to the current trends in such things as food prices and are not actively planning to insulate yourself as best you can from the coming problems then you should. This is only the tip of the iceberg and this year's heat, flooding and drought are just a symptom of the changes our global climate will experience in the coming years. We're going to have snow and cold but the trend to warmer and drier will continue into the future and things are only going to get worse. We aren't quite at the point yet for this to cause civil unrest but that is not far in the future either. You need to start thinking in disaster terms when it comes to the things you need to survive and yes that means stockpiling some things that will come into short supply. You may be able to afford to put food "on your family" today but at some point money does not answer the questions of short supplies or unavailable at any price. Just remember that this year's high prices and short supply are not a "one off" but a trend and it will continue to get worse.