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Un Calls Meeting On Food Price Concerns

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http://www.bbc.co.uk/news/business-11177346

The United Nations' food agency has called a special meeting of policy makers to discuss the recent rise in global food prices.

The announcement came after Russian Prime Minister Vladimir Putin extended the country's ban on grain exports on Thursday.

This added to fears that prices of food staples would continue to rise.

The meeting will take place on 24 September, probably in Rome, the UN Food and Agriculture Organization said.

"In the past few weeks, global cereal markets experienced a sudden surge in international wheat prices on concerns over wheat shortages," the agency said.

"The purpose of holding the meeting is for exporting and importing countries to engage in constructive discussions on appropriate reactions to the current market situation."

Strange it would appear that they have forgotten to invite Wall Street bankers betting on food price rises.

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Food is the new bubble IMPO. Bw ankers are evil IMPO.

What morons. Presumably they want more supply at a lower price.

The price of good is governed by supply and demand. Price goes up, supply soon follows, and then drives the price down.

But you cant reduce the price for long with force, as all you do is reduce the supply, cos no one will produce at the lower price, and that lower supply drives the market price even higher.

You canna change the laws of economics. Nothing the UN can do about it, their best policy is to do nothing.

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What morons. Presumably they want more supply at a lower price.

The price of good is governed by supply and demand. Price goes up, supply soon follows, and then drives the price down.

But you cant reduce the price for long with force, as all you do is reduce the supply, cos no one will produce at the lower price, and that lower supply drives the market price even higher.

You canna change the laws of economics. Nothing the UN can do about it, their best policy is to do nothing.

They do understand basic economics.

They also want power over humanity.

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Try this:

http://www.marketskeptics.com/2009/12/2010-food-crisis-for-dummies.html

The author is quite excited about the scale and implications of the food supplies. Apparently, the soyabean crop in the US has failed with a knock-on for the livestock sectors. No eggs or breakfast.

He claims that India has already imposed a food export ban. With the problems in China and Pakistan millions of usually well fed consumers will feel the effects.

Beyond hunger, he posits monetary effects on a global scale.

Buy potatoes NOW.

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The problem is a forecast La Nina and global cooling much worse than we experienced in 2008. Blame all the global warming scientists telling everyone to plant heat-resistant crops, because we're getting the opposite.

We'll cope. People who live in dustbowls and produce nothing of any worth might not.

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I'm sorry folks, but this is a non-story. It's the start of September so 95% of the Northern hemisphere's grain has been harvested. Quality of the harvest is the only remaining variable that will affect supply.

Famine is rarely a function of food supply, it is usually a function of food price which is driven up by hoarding/stockpiling. In each of the last 4 Summers there has been scares over grain supplies. 2 years ago the plains of the American mid-west had flooded, and there was a scare. Last year, the scare was in China. This year it's the Caucasus has a drought.

The reality is that the developing world is getting richer, and they are gaining an taste for the western (grain rich) diet. Hence the price of grain based products (which includes meat and poultry) are being driven up.

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Going to be fun watching the goons continue talking about figthing deflation.

http://www.guardian.co.uk/business/2010/sep/05/commodities-food-drink-industry

UN calls special meeting to address food shortages amid predictions of riots

Poor harvests and demand from developing countries could push cost of weekly shop up by 10%

wheat and sky Global wheat harvest this year has been hit by droughts and floods. Photograph: Graham Turner for the Guardian

Two years after the last food crisis, when prices surged by nearly 15% in the UK, food inflation is back. Soaring global food prices have prompted City and food industry experts to warn that the cost of the weekly shop is set to rise by up to 10% in the coming months.

As in 2008, rocketing prices are the result of rising demand and supply shortages caused by freak weather and poor harvests. Moreover, these conditions are exacerbated by speculation on commodity markets and changing diets in fast-growing Asian countries.

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these conditions are exacerbated by speculation on commodity markets

Twaddle (not disagreeing with the whole of the article, but this particular piece of glib folklore really sticks in my craw - no matter how oft-repeated).

As any market gardner will tell you, this is precisely the signal that supply-side track.

The best (as in - least harm) solution to supply-side failure is to allow prices to rise as quickly as possible.

The alternative is stable prices - and starvation.

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Two years after the last food crisis

We know how that ended.

Russia doing everything they can to prevent any further price falls.

Nasty thing deflation.

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We know how that ended.

Russia doing everything they can to prevent any further price falls.

Nasty thing deflation.

Also this has the eerie feeling of what happened in 30's in the US with farm prices falling.

Deflation is only nasty if you've been making forward projections which always showed growth, clearly no one has been that stupid....

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  • 244 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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