Thursday, September 20, 2012

Early 2013: Prepare For A Massive Food Price Surge; Up 175% from the Year 2000

The after-effects of 2012′s summer drought are far from over. According to a new analysis from Rabobank this year’s crop failure and premature slaughtering of pigs, cattle and other staple meats will lead to an average 15% surge in food prices in 2013.

It may not sound like much, but when you combine this with monetary easing that threatens to rapidly depreciate the value of the dollar and an already indebted U.S. consumer, we can expect even more participants to enter government nutritional assistance programs. It’s more expensive than ever before just to stay alive.

The record US, and global, summer drought has come and gone but its aftereffects are only now going to be felt, at least according to a new Rabobank report, which asserts that food prices are about to soar by 15% or more following mass slaughter of farm animals which will cripple supply once the current inventory of meat is exhausted. From Sky News: “The worst drought in the US for almost a century, combined with droughts in South America and Russia, have hit the production of crops used in animal feed – such as corn and soybeans – especially hard, the report said. As a result farmers have begun slaughtering more pigs and cattle, temporarily increasing the meat supply – but causing a steep rise in the price of meat in the long-term as production slows. Read more...

4 comments:

  1. The prices of food have gone up dramatically in the past few months. Combination of drought, gasoline, QE cheaper money and a little corporate greed.

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