Forget oil, the 'new global crisis is food'...

[Debsters]

Not sure if this is the right forum to put this in.

http://www.financialpost.com/story.html?id=213343


The article states wheat has risen 92% in the past year ! :twitch

[Vonne]

The End of Cheap Food (http://www.economist.com/opinion/displaystory.cfm?story_id=10252015) Interesting article.

[Nova]

I agree. Expect continuing higher food prices.

[medbiller777]

A new crisis is emerging, a global food catastrophe that will reach further and be more crippling than anything the world has ever seen. The credit crunch and the reverberations of soaring oil prices around the world will pale in comparison to what is about to transpire, Donald Coxe, global portfolio strategist at BMO Financial Group said at the Empire Club's 14th annual investment outlook in Toronto on Thursday.

"It's not a matter of if, but when," he warned investors. "It's going to hit this year hard."

Mr. Coxe said the sharp rise in raw food prices in the past year will intensify in the next few years amid increased demand for meat and dairy products from the growing middle classes of countries such as China and India as well as heavy demand from the biofuels industry.

"The greatest challenge to the world is not US$100 oil; it's getting enough food so that the new middle class can eat the way our middle class does, and that means we've got to expand food output dramatically," he said.

The impact of tighter food supply is already evident in raw food prices, which have risen 22% in the past year.


http://www.nationalpost.com/news/story.html?id=213343

[Vonne]

The End of Cheap Food (http://www.economist.com/opinion/displaystory.cfm?story_id=10252015) An Interesting article.

[ready2go]

BMO strategist Donald Coxe warns credit crunch and soaring oil prices will pale in comparison to looming catastrophe

A new crisis is emerging, a global food catastrophe that will reach further and be more crippling than anything the world has ever seen. The credit crunch and the reverberations of soaring oil prices around the world will pale in comparison to what is about to transpire, Donald Coxe, global portfolio strategist at BMO Financial Group said at the Empire Club's 14th annual investment outlook in Toronto on Thursday.

"It's not a matter of if, but when," he warned investors. "It's going to hit this year hard."

more.... (http://www.financialpost.com/story.html?id=213343)

[WVBORN56]

Just as I thought....it's ethanol and China's fault primarily.

Just so the Olive Garden is not affected:) my favorite eating establihment.

[Slappi]

Actually my food costs are going down.


I decided to lose weight and grow some of my own food.



I also planted some fruit trees.

Things are looking good.

[NovaStorm]

I also planted some fruit trees.

Things are looking good.
I have fruit trees :) ...just no bees :scratch

[deanne53]

I have fruit trees, bees, cows, chickens, gardens, herb garden for medicines, make my own maple syrup etc. Seen this coming a few years back. Started getting things ready then, and its going to pay off.