Showing posts with label food shortage news. Show all posts
Showing posts with label food shortage news. Show all posts
Sunday, April 17, 2011
Thursday, December 9, 2010
U.S. May Have `Problem' Meeting Surging Global Demand for Wheat, UN Says
Bloomberg
The U.S., the world’s largest wheat shipper, may not have the logistical capacity to meet rising global demand after rains cut the quality of the harvest in Canada and Australia, the United Nations said.
As much as 8 million metric tons of Australia’s wheat harvest may be downgraded because of excessive rains and Canada’s output suffered from wet weather, pushing importers to seek alternative suppliers, said Abdolreza Abbassian, an economist at the UN Food & Agriculture Organization, citing government estimates.
“Right now, the only country that would have such supply to compensate for the downgrade of Australia and also Canada would be the U.S.,” Abbassian said in an interview. “The problem is that the capacity in the U.S. for terminals to absorb enough milling wheat for shipment, it’s just not there.”
Increased demand from the U.S. may lead to supply bottlenecks, delaying deliveries and intensifying competition among importers, said Park Yang Jin, business manager at Seoul- based Daehan Flour Mills Co., South Korea’s largest milling wheat importer. This would help sustain a rally in Chicago futures, he said. The U.S. accounts for 27 percent of global wheat trade.
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Monsanto Says it's the 'Right Time" for GMO Wheat
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Thursday, December 2, 2010
CHART OF THE DAY: Global Food Prices About To Break An All Time High
Gregory White
Business Insider
Inflation in emerging markets is hitting food prices hard, and now we have raw data from the UN to confirm.
The latest report from the UN Food and Agricultural Organization shows prices are back at 2008 levels, and have increased for five months in a row.
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Business Insider
Inflation in emerging markets is hitting food prices hard, and now we have raw data from the UN to confirm.
The latest report from the UN Food and Agricultural Organization shows prices are back at 2008 levels, and have increased for five months in a row.
Fresh food that lasts from eFoods Direct (Ad)
Live Superfoods
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Rice May Triple in 18 Months as Supplies Tighten, Duxton's Peter Forecasts
Bloomberg
Rice, the staple food of more than three billion people, may as much as triple in 18 months as flooding in exporters including Thailand tightens supplies and demand climbs, according to Duxton Asset Management Pte.
“Rice will blow out the stocks,” said Ed Peter, chief executive officer, who co-founded the company last year with Managing Director Desmond Sheehy. Both worked at Deutsche Asset Management and the Deutsche Bank AG unit owns 19.9 percent of Duxton, while Peter, Sheehy and staff own the rest. Duxton, based in Singapore, invests in farmland, Asian stocks and wine.
Peter’s forecast, in an interview on Nov. 29, would put rice at more than the peak during the 2008 food crisis, which triggered social unrest in poorer states. Wheat and corn also surged that year, while record oil prices boosted fertilizer costs. Kiattisak Kanlayasirivat at Novel Commodities SA, which trades rice, said farmers can replant quickly as floods recede.
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Banksters Inflate Speculative Food Bubble
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Friday, October 29, 2010
The Food Crisis of 2011
Addison Wiggin
Every month, JPMorgan Chase dispatches a researcher to several supermarkets in Virginia. The task is to comparison shop for 31 items.
In July, the firm’s personal shopper came back with a stunning report: Wal-Mart had raised its prices 5.8% during the previous month. More significantly, its prices were approaching the levels of competing stores run by Kroger and Safeway. The “low-price leader” still holds its title, but by a noticeably slimmer margin.
Within this tale lie several lessons you can put to work to make money. And it’s best to get started soon, because if you think your grocery bill is already high, you ain’t seen nothing yet. In fact, we could be just one supply shock away from a full-blown food crisis that would make the price spikes of 2008 look like a happy memory.
Fact is, the food crisis of 2008 never really went away.
True, food riots didn’t break out in poor countries during 2009 and warehouse stores like Costco didn’t ration 20-pound bags of rice…but supply remained tight.
Prices for basic foodstuffs like corn and wheat remain below their 2008 highs. But they’re a lot higher than they were before “the food crisis of 2008” took hold. Here’s what’s happened to some key farm commodities so far in 2010…
- Corn: Up 63%
- Wheat: Up 84%
- Soybeans: Up 24%
- Sugar: Up 55%
What was a slow and steady increase much of the year has gone into overdrive since late summer. Blame it on two factors…
- Aug. 5: A failed wheat harvest prompted Russia to ban grain exports through the end of the year. Later in August, the ban was extended through the end of 2011. Drought has wrecked the harvest in Russia, Ukraine and Kazakhstan – home to a quarter of world production.
- Oct. 8: For a second month running, the Agriculture Department cut its forecast for US corn production. The USDA predicts a 3.4% decline from last year. Damage done by Midwestern floods in June was made worse by hot, dry weather in August.
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Friday, October 22, 2010
General Mills Signals Faster U.S. Food Inflation: Chart of the Day
Bloomberg
General Mills Inc. showed where U.S. food prices are headed by making some of its breakfast cereals and baking products more expensive, according to Christopher Growe, a Stifel Nicolaus & Co. analyst.
As the CHART OF THE DAY shows, retail prices for food are lower than they were in May though the cost of farm commodities has soared. The food component of the U.S. consumer price index and a gauge of agricultural-product prices, compiled by UBS AG and Bloomberg, were used to make the comparison.
General Mills, the maker of Cheerios, Chex and Wheaties, will raise cereal prices on Nov. 15. The increase will affect about 25 percent of its cereal production and amount to a “low single-digit” percentage, Kirstie Foster, a company spokeswoman, wrote today in an e-mail.
Prices for some baking mixes are set for “a mid single- digit increase,” effective Jan. 3, Foster wrote. The company’s product lines include Betty Crocker, Bisquick and Pillsbury.
“While General Mills may be the first of the large food companies to really press higher on pricing, we believe many others may follow,” Growe wrote. “It’s just a matter of time, given what is coming down the pike in the way of inflation.”
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Banksters Inflate Speculative Food Bubble, UN Offers Global Governance Solution
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