Friday, February 11, 2011

It's On The Way - Rising Food Prices

Warnings of higher food prices is on the way for American supermarkets and restaurants.
The U.S. Department of Agriculture reported that global demand has pushed U.S. corn supplies to their lowest levels in 15 years.
The price of corn, which has doubled over the past six months, affects almost everything in grocery stores.
Corn is used to feed the cattle, pigs and chickens that supply the meat aisles.

It is the main ingredient in many cereals and snacks. 
It is also the sweetener in most soft drinks and many foods.

Shoppers will most likely see higher grocery bills within the next as three months.

Chicken prices will be perhaps the first increase because the bird's life span is so short that higher feed costs get factored in almost imeditaly.
Price increases for pigs take about a year and cattle two years.
Price increases on packaged foods may take six or seven months to rise.

Over the past six months corn prices have risen from $3.50 a bushel to nearly $7.

International media has reported that in 2010, the prices of corn, wheat, soybean and sugar increased by more than 20 percent. In particular, the prices of wheat and corn increased by more than 60 percent.

Also, keep your eye on coffee prices.

May we suggest you start building at least a months food and water supply for back up.