The Mudcat Café TM
Thread #109897 Message #2300741
Posted By: number 6
29-Mar-08 - 09:05 PM
Thread Name: BS: Global Rice Crisis
Subject: RE: BS: Global Rice Crisis
It's not just a Global Rice Crisis ... it's a Global food crisis.
It was the headline article in MacLeans magazine back in February "Why your grocery bill is about to hurt". The artical was definately an eyeopener.
here is a summary ...
TORONTO, Feb. 28 /CNW/ - With the global supply of cereal grains falling to 40-year lows, and with consumption trending ever upward, the earth's supply of food is suddenly under pressures unknown in half a century. Two weeks ago, wheat prices hit an all-time high of US$18.53 a bushel, while corn, driven in part by demand from the biofuel industry, climbed to $5.34 a bushel, more than double the average price before 2007. The political repercussions have been swift, and in some cases violent. In Mexico, about 70,000 people hit the streets to protest the doubling and tripling price of tortillas. Chinese officials are warning that rising rice and corn prices could lead to civil unrest in rural areas. Even the food-rich West is starting to feel the pinch. In September, rising pasta prices, a
direct function of the soaring value of wheat, sent Italians flooding city squares in Rome, Milan and Palermo to demonstrate. In the United States, the skyrocketing cost of chicken and cattle feed is hitting the pocketbooks of consumers at all points of the economic spectrum. Milk, eggs and filet mignon are all going up, and so is Kraft Dinner.