I asked a family member today to pick up a few 44lb (20kg) bags of organic red hard wheat. Last time I purchased - ~1yr ago - the cost was $20 per bag. It's now $42 per bag!
That's a BIG bleedin' price increase.
Grain prices
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renewable energy
Corn, Wheat, and other feeds have sky-rocketed in the last year. Corn....thanks to the mandate of our Goverment on alternative fuels and the %%% that must be made into fuel has triggered these increases. As well as other factors such as fuel to produce and harvest the crops cost.
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Does anybody remember what I predicted in regard to basic food prices some time last year? We are getting there! A dozen eggs is up from 99 cents late last year to $1.69 this week.
It sucks for pizza places. The mom-and-pop place I deliver for has had to raise prices sharply just recently, and are scrambling to use up the flyers with coupons that expire at the end of the month so they can raise prices again to cover costs. Apparently it's been a real squeeze between flour and cheese both skyrocketing.
Agriculture is intimately tied to petroleum.
Price of oil skyrockets, expect the same for grain, etc.
Price of oil skyrockets, expect the same for grain, etc.
Mark - fair enough RE oil increases ... but > double the price?
But you feel better knowing that half your food is going to ADM to make ethanol, so you can Hedonic down the inflation to reasonably pre-Bernankification levels.
I'm not sure what you said, but it didn't sound good - esp that Bernankification.
http://www.energybulletin.net/21736.html
We should fear a crop failure or two, as things could get really nasty, literally in a matter of days.
We should fear a crop failure or two, as things could get really nasty, literally in a matter of days.
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I got the coordinates for the Svalbard Arctic seed vault.
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Who says I plan on sharing?
Just wait until the Tribbles arrive.
Originally Posted By: oilyriser
But you feel better knowing that half your food is going to ADM to make ethanol, so you can Hedonic down the inflation to reasonably pre-Bernankification levels.
You blame Bernanke? That's rich. And Dingell wants a .50$/gallon fuel tax to head off consumption!! Keep going....nothing to see here.....
Congress. We know what's best for you!
But you feel better knowing that half your food is going to ADM to make ethanol, so you can Hedonic down the inflation to reasonably pre-Bernankification levels.
You blame Bernanke? That's rich. And Dingell wants a .50$/gallon fuel tax to head off consumption!! Keep going....nothing to see here.....
Congress. We know what's best for you!
Apparently nobody knows what's best for anybody about anything.
Originally Posted By: MarkC
Apparently nobody knows what's best for anybody about anything.
I know what's best for me....
Apparently nobody knows what's best for anybody about anything.
I know what's best for me....
Three reasons for high wheat prices:
Quote:
Global demand for everything from wheat and barley to corn has been soaring for the past 18 months, driven by a succession of droughts and crop failures in producing countries including Canada, the world's second-biggest exporter.
In addition, rising affluence in China and India has enabled the middle class there to move to more Western-style diets favouring wheat.
A third factor is the growth of the biofuel industry, where government subsidies in the United States and Europe have created an additional source of demand for grain crops.
http://www.financialpost.com/story.html?id=288049
Quote:
Global demand for everything from wheat and barley to corn has been soaring for the past 18 months, driven by a succession of droughts and crop failures in producing countries including Canada, the world's second-biggest exporter.
In addition, rising affluence in China and India has enabled the middle class there to move to more Western-style diets favouring wheat.
A third factor is the growth of the biofuel industry, where government subsidies in the United States and Europe have created an additional source of demand for grain crops.
http://www.financialpost.com/story.html?id=288049
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