View Full Version : Food Prices Spiking

Aug 9th, 2012, 01:18 PM
UN agency: Global food prices up sharply in July

ROME — International food prices rose sharply in July after three months of decline, driven by a spike in grain and sugar prices, a United Nations report said Thursday.

Severe drought gripping the U.S. Midwest has sent corn prices soaring by almost 23 percent and expectations of worsened crop prospects in Russia because of dry weather sent world wheat prices up 19 percent.

The United States is the world's No. 1 exporter of corn, soybeans and wheat and the price hikes are expected to be felt across the international marketplace, hurting poor food-importing countries, said a study by British charity Oxfam issued on the eve of the U.N. report.


There's very little that I agree with Fidel Castro on. However a few years ago he went on a tear about how using food like corn to make ethanol for automobiles was an assault on poor people. And he was absolutely right.

First of all, I think that ethanol is a dumb idea but it's even dumber when you take one of the basic food staples to make it. And does it really make gasoline prices that much cheaper? I think not.

And frankly if the US government did not subsidize ethanol, it would fall of its own weight.


Super Dave
Aug 9th, 2012, 01:20 PM
Hottest July ever here; hotter than the famous 1936 summer :help: :facepalm: