Food Doom 2011: Monitoring rising food prices and shortages around the world as they unfold

World Bank: Food prices at "dangerous levels"
World Bank President Robert Zoellick says global food prices have hit "dangerous levels" that could contribute to political instability, push millions of people into poverty and raise the cost of groceries...The bank says in a new report that global food prices have jumped 29 percent in the past year, and are just 3 percent below the all-time peak hit in 2008. Zoellick says the rising prices have hit people hardest in the developing world because they spend as much as half their income on food.

Companies Warn That Higher Prices Are Looming
Cotton prices are near their highest level in more than a decade, after adjusting for inflation, and leather and polyester costs are jumping as well. Copper recently hit its highest level in about 40 years, and iron ore, used for steel, is fetching extremely high prices. Prices for corn, sugar, wheat, beef, pork and coffee are soaring. Labor overseas is becoming more expensive, meanwhile, and so are the utility bills to keep a factory running.

High Sugar Prices Hit Bakeries, Confectioners
Poor weather in sugar producing countries has driven up world sugar prices-- which have left a bitter taste in the mouths of local bakers and confectioners. Kim Brady, the cafe shipping manager at Original Smith Island Cake Co. in West Ocean City, says they're paying eighty percent more for sugar than they were last year.

Fed's Lacker: Food, Energy Price Rise Definitely A Concern
Richmond Federal Reserve President Jeffrey Lacker said in a Bloomberg television program that while accelerating inflation is "not a done deal" yet, it's at this point in the economic recovery when it can.

Crop Prices Push Up Farmland Value
Fueled by rising crop prices, the value of irrigated and nonirrigated cropland across the region known as the 10th District jumped 14.8% and 12.9%, respectively, in the fourth quarter, compared with a year earlier.

Milk production and milk prices expected to be higher in 2011
Milk prices will be higher this year. The Class IV price is expected to average $16.70 to $17.50 per cwt. The Class III price is expected to be below the Class IV price this year and to average $15.80 to $16.50 per cwt. The expected higher Class prices will push the all milk price well above 2010 to a forecast $17.70 to $18.40 per cwt for 2011.

Candy Shop Gets Creative to Keep Chocolate Prices Stable
"Sugar has doubled," adds Hicklin. "Pecans have doubled or tripled." Cocoa bean prices soared to highs unseen since the beginning of last year. "...It's forcing stores like the Candy House to cut back. It's changing packaging and cutting out different chocolates that proved to be too costly.

Tomato prices soar after cold weather kill-off
With so many crops killed off by the cold, produce shop owners are seeing tomato prices triple. Cases that usually cost $12-15 are up to $40.

Corn prices increasing, what'll it mean for grocery costs?
The demand for corn is going up, which is expected to increase it's production costs. Experts say it'll trickle down onto the price of beef and commodities at grocery stores.

Global wheat prices could soar as China struggles with drought
If the country were to buy large amounts of wheat overseas, prices on commodity markets would skyrocket. This comes at a time when food costs are already high, and a further increase would be devastating for millions of China's poorest.

Originally posted by Clarion36
reply to post by silent thunder

 

Our global food shortage is a growing and continuing problem. We will see more revolutions in countries with food shorages in the months and years to come.

There is not a 'food shortage' today any more than there were 'gas shortages' during the gas price hikes of the 1970's. When you see 'shortage' attached to price hikes you can generally assume that the only shortages are ones that are created by those in charge of the food supplies.

At one time in history they could only do this with Commodities that they had control over- like petroleum. Now, with Food Inc. being in control of most of the worlds food supply- they can create 'shortages' and resultant price hikes.

food prices in the state of georgia has risen quite fast - in less than one month the price of a can of campbell's soup went from $1.18 to $1.58 a can.

the other thing i have noticed is the date sensitive items such as milk, cheese, etc spoil before the expiration date and this has happened with buttermilk (of all things), cottage cheese and yoguart.

also, i've noticed at this one particular store chain (ingles) when i purchase roasted chicken at the deli - it was a dollar higher at the register than the price indicated on the product -

this is a good thread -

one other thing, our pecan trees and our fig trees have been damaged severely by an invading species of chinese beetle - i believe this might be the result of a coupla things: (1) bush took all the ag agents off the front line of stopping invading specifies at the boarder and put them looking for terrorists after 9/11 -

the other is this particular bug was suppose to eat the kudzu which was imported from japan to stop erosion - i mean does this make any sense at all?

Originally posted by musselwhite
also, i've noticed at this one particular store chain (ingles) when i purchase roasted chicken at the deli - it was a dollar higher at the register than the price indicated on the product -

Don't know if you have the equivalent where you are but in the UK the Sale of Goods Act which, among other things, protects consumer rights on this issue, makes it illegal for the vendor to sell a product at any price over and above the price advertised. All the buyer/shopper has to do is quote their rights under the Act and the vendor has no choice but to sell the product at the cheapest advertised price. If the vendor has mistakenly failed to remove an out of date offer price or been tardy in changing a price label to reflect a higher price charged wholesale by their supplier/s, it does not make the consumer/shopper liable, ie., the vendor cannot pass the costs of his error on to his customers.

this is a good thread -

It sure is!

reply to post by teapot
that is true here in the u.s. as well - i just shop at the one chain most of the time and it is here that i have been very dissatisfied in many date sensitive products sold at this store - never have we had a problem until about 6 months ago - it also happened once at another store -

i believe the stores are trying to get rid of bad product - most people would not go back for a refund -

i still have the package and receipt - i have been keeping an eye out on all those cost departments -