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Many parts of America, long considered the breadbasket of the world, are now confronting a once unthinkable phenomenon: food rationing. Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also anecdotal reports that some consumers are hoarding grain stocks.
At a Costco Warehouse in Mountain View, Calif., yesterday, shoppers grew frustrated and occasionally uttered expletives as they searched in vain for the large sacks of rice they usually buy.
"Where's the rice?" an engineer from Palo Alto, Calif., Yajun Liu, said. "You should be able to buy something like rice. This is ridiculous."
Originally posted by loam
This may prove to be an interesting week. If shortages are coming to the shelves, it will happen very quickly. I think I'll be hitting the stores everyday this week to keep an eye on it.
Originally posted by LLoyd45
It would be interesting if ATS members around the country could post the current prices for staples like Rice, flour, wheat, corn meal, and cooking oils for a later comparison.
Originally posted by johnsky
This is not looking like a supply issue... this is being affected from elsewhere in the equation.
In lean times, biotech grains are less taboo
Soaring food prices and global grain shortages are bringing new pressures on governments, food companies and consumers to relax their longstanding resistance to genetically engineered crops.
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Agriculture Has Legs
Monsanto (MON), the most richly valued, has a forward P/E of 32.62, but has an estimated annual growth rate of 36.9% over the next five years.
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Originally posted by alienib
If our government doesn't change it's "leaders" we may face rationing of everything but BS.
Originally posted by alienib
If our government doesn't change it's "leaders" we may face rationing of everything but BS.
Originally posted by LLoyd45
Just look at the indifference many show towards the people that are loosing their homes right now.