Wednesday, September 5, 2007

Food inflation on its way

Global growing problem of wheat production

This is a secular rise in food prices. It is both a demand and supply issue of massive proportions.

Posted by sold 2 rent 1 @ 11:38 AM (778 views)
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8 thoughts on “Food inflation on its way

  • I can quite believe that food prices are going to sky rocket. I breed Aberdeen Angus cattle, the prices they have been making at market since the spring of this year have been on an upward trend, not just Angus but any breed, aparently due to a ‘cow shortage’ in the UK. I don’t buy meat from a supermarket as I always use my own (largely due to the cost and the fact I know what they have been fed). Has anyone noticed the cost of beef rising lately?

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  • Thanks Gordon and Tony, now we are going to be homeless -and- hungry.
    The 89 pence sausages you find in cheap supermarkets, the own brand bargain foods, which feed large swathes of people in the lowest income bracket, are going to increase in line with wheat. The Pope, bless him, still argues against birth control, and presumably doesn’t realise that he is by default arguing for jungle law population control.
    We import both food and people to the UK, increases in people increases imports.
    Interest rate control has moved on from the BoE to the inter-bank rate at 6.76%, we just saw our first major couple of strikes about wages, and food prices are going up, perhaps compounded by the sterling revaluation in which case they would be quite dramatic. Welcome to the United Kimbabwedom.
    Looking about for the house price crash is like failing to see the wood for the trees, we are obviously heading into a recession.

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  • S2R1 has picked out a good example of inflationary pressures. Increasing food costs will add to the [laughable] CPI and take more money from those who pay mortgages and those who rent. The result will be less cash to spend on housing at a time when interests rates could rise again. This does not bode well for those who expect a flood of cheap money to prop up the housing market.

    Interest rates could still reach 6% by the end of the year although I will be surprised, very surprised, if they don’t start falling in early 2008. (First cut in Feb 08).

    Tongue in cheek: Secular is defined by the Free Online Dictionary as “1. Worldly rather than spiritual. 2. Not specifically relating to religion or to a religious body: secular music. 3. Relating to or advocating secularism. 4. Not bound by monastic restrictions, especially not belonging to a religious order. Used of the clergy” Synonym.Com defines it as “1. laic, lay, secular — (concerning those not members of the clergy; “set his collar in laic rather than clerical position”; “the lay ministry”; “the choir sings both sacred and secular music”).”

    Does this mean wheat grown in a religious setting will cost less?

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  • You can’t keep on printing money without eventually causing inflation then of course people say we need to build more houses to solve the problem or oils running out that’s why prices are so high but of course it nothing of the sort it’s just good old inflation.

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  • “Does this mean wheat grown in a religious setting will cost less?”

    Talking rot. Before you start putting in an offer to transform that overgrown graveyard, you may want to check with your neighbours first! 😉

    If only the Afghans would grow wheat instead of poppies, it would solve at least two problems straightaway.

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  • if only the europeans would stop chasing dragons instead of inventing georges to slay them, after all wasnt he a syrian anyway, buried in lod. anyway man cant live on house prices on its own but from all the neurosis of ….

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  • Went to buy eggs at local farmshop today. Gone up to £1.50. Last month they went up to £1.40 from £1.30. Corn has gone up and apparently their bakery is facing rises of 30%.

    How the hell is inflation not going up fast?

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  • Van Hoogstraten says:

    Expect a new index that completely ignores food price rises – I thought they werent counted in “core” inflation anyway (whatever the f**k core inflation is)….therefore will have no impact.

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