Arab Today, arab today consumer corner drought  higher prices
Last Updated : GMT 05:13:31
Arab Today, arab today
Arab Today, arab today

Consumer Corner: Drought = higher prices

Arab Today, arab today

Arab Today, arab today Consumer Corner: Drought = higher prices

Chicago - AFP

Food prices are up, but the global economy -- rather than a lack of rain in the U.S. Corn Belt -- are likely to blame, a U.S. food marketing expert says. John Stanton, professor of food marketing at Saint Joseph\'s University in Philadelphia, says increasing global demand for crops such as corn is putting pressure on U.S. food prices. \"Price increases from the droughts are likely to have short-term effects, but global issues can have a longer and greater impact,\" Stanton said in a news release. \"The biggest cost in a box of corn flakes isn\'t the corn,\" he said. \"It\'s everything from the price of oil to transport the product to the marketing and the packaging. So something like the cost of oil will have a much more lasting effect on the price of your cereal than the supply of crops.\" Buying locally grown and locally produced food has may positive benefits but it won\'t necessarily leave more change in your pocket. \"Everybody is looking for local food,\" said Stanton. \"But whether we like it or not, the food world is global and what happens in Brazil can have just as big an impact on U.S. consumers as what happens in Nebraska.\" Higher grain prices and strong global demand for pork is putting pressure on the domestic supply but U.S. fears of a pending bacon shortage are misplaced, a major U.S. pork processor and hog producer said. \"Contrary to recent media reports, there is no bacon shortage, at least not at Smithfield Foods Inc.,\" the company said in a statement. \"Thanks to our company farms and national network of family farm partnerships, we are happy and proud to continue delivering high-quality, flavorful bacon and bacon products to our retail and foodservice customers.\" Smithfield, however, said high grain prices from the summer drought and ethanol policy will continue to be a financial hardship for domestic hog farmers and likely will cause many of them to cut production. The Food Institute says food inflation, including the impact of the drought in the Midwest this year, will cost a family of four $351.12 more in food spending in 2013 than in 2012, which comes out to about $6.75 per week. The trade association based in New Jersey says the U.S. Department of Agriculture\'s latest food price projections for 2013 indicate prices for food at home will increase as much as 4 percent next year, with prices for food away from home are projected to rise as much as 3.5 percent. The Food Institute says most of the increase will be spent at meat counters, where annual costs are seen rising about $44 next year for a family of four, and about $30 for a two-person households. Fresh produce prices will add $23.44 more to a family\'s grocery bill next year while processed fruit and vegetable expenditures should go up $11, the Food Institute projects. Environmentalists say rising demand for fossil fuels, a growing global population and global warming are exacerbating the issues created by the drought. Lester Brown, president of the Earth Policy Institute, said the \"Great Drought of 2012\" has raised corn prices to record highs and helped usher in \"a new wave of food unrest. \"This year\'s corn crop shortfall will accelerate the transition from the era of abundance and surpluses to an era of chronic scarcity,\" Brown said in a statement. \"As food prices climb, the worldwide competition for control of land and water resources is intensifying.\" Brown, author of \"Full Planet, Empty Plates: The New Geopolitics of Food Scarcity,\" said access to food is replacing access to oil as an overriding concern of governments. \"Food is the new oil, land is the new gold. Welcome to the new geopolitics of food. \"For Americans who spend only 9 percent of their income on food, the doubling of food prices is not a big deal,\" the Earth Policy Institute said. \"But for those who spend 50- to 70 percent of their income on food, it is a serious matter. ... There is little latitude for them to offset the price rise simply by spending more. They must eat less.\" Brown said farmers face new challenges on both sides of the food equation -- population growth and economic growth. \"As incomes rise, people eat more grain-intensive livestock and poultry products. Today, with incomes rising fast in emerging economies, there are at least 3 billion people moving up the food chain. The largest single concentration of these new meat eaters is in China, which now consumes twice as much meat as the United States.\" In 2011, the United States harvested nearly 400 million tons of grain. Of this, 32 percent went to ethanol distilleries. Brown said farmers are also having to confront global warming. \"The massive burning of fossil fuels is increasing the level of carbon dioxide in the atmosphere, raising the earth\'s temperature and disrupting climate. Historically when there was an extreme weather event -- an intense heat wave or a drought -- things would likely be back to normal by the next harvest. Now with climate in flux, there is no \'norm\' to return to.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today consumer corner drought  higher prices Arab Today, arab today consumer corner drought  higher prices

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 05:57 2017 Sunday ,19 February

How do you say déjà vu in Greek?

GMT 05:26 2017 Sunday ,19 February

US natural gas market tightens

GMT 05:06 2017 Sunday ,19 February

Merkel: Euro is too low for Germany

GMT 04:58 2017 Sunday ,19 February

Swedish PM: Brexit deal in 2 years is unlikely

GMT 20:02 2017 Saturday ,18 February

Gold edges higher as global equities lose momentum
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday