Toronto The Daily News – CrackedPudding.com

Top Menu

  • Login
  • Archives
  • Les Actualités
  • ESPAÑOL
  • Advertising
  • Contact Us

Main Menu

  • Home
  • Business
  • Entertainment
  • Food & Drink
  • Headline
  • Health
  • Editorials
  • Buzz
  • Lifestyle
  • Sports
  • Adults Only
  • Dating
Sign in / Join

Login

Welcome! Login in to your account
Lost your password?

Lost Password

Back to login
  • Login
  • Archives
  • Les Actualités
  • ESPAÑOL
  • Advertising
  • Contact Us

logo

Header Banner

Toronto The Daily News – CrackedPudding.com

  • Home
  • Business
  • Entertainment
  • Food & Drink
  • Headline
  • Health
  • Editorials
  • Buzz
  • Lifestyle
  • Sports
  • Adults Only
  • Dating
  • Interesting Museums to Visit Around Arlington, VA

  • The Best Small Towns to Check Out in Western Canada

  • 56 reports of ‘adverse events’ following COVID-19 vaccinations in B.C.

  • Adverse Events Reported From COVID-19 Vaccine Trials: A Systematic Review

  • Neurologic adverse events among 704,003 first-dose recipients of the BNT162b2 mRNA COVID-19 vaccine in Mexico: A nationwide descriptive study

Health
Home›Health›Coronavirus shutdowns causing food prices to soar

Coronavirus shutdowns causing food prices to soar

By admin
May 13, 2021
628
0
Share:

(Natural News) A handful of the world’s most important commodities – these include corn, wheat, soybeans, and vegetable oils – are skyrocketing in price, thanks to the economic shutdowns imposed in response to the Wuhan coronavirus (Covid-19).

This week’s Bloomberg Agriculture Spot Index, which tracks key farm products, shows a nine-year record surge in price for these commodities. Global food prices are already the highest they have been since mid-2014, which is being driven in part by a rally in crop futures.

Staple food crops like the aforementioned are used not just to feed people and cattle, by the way. Some of them, including corn, are also used for fuel in the form of ethanol, which means gas prices may also continue their surge.

“Soaring raw material prices have broad repercussions for households and businesses, and threaten a world economy trying to recover from the damage of the coronavirus pandemic,” reports Bloomberg.

“They help fuel food inflation, bringing more pain for families that are already grappling with financial pressure from the loss of jobs or incomes.”

United Nations Food and Agriculture Organization (FA) senior economist Abdolreza Abbassian revealed in an interview that a “bullish force” is behind these price increases, which are occurring internationally.

“The indications are that there is very little reason to believe prices would remain at these levels,” he says. “It’s more likely they will rise further. Hardship is still ahead.”

Speculative greed and endless money printing will cause billions to starve

The federal government’s endless money printing is not helping matters, either. Rapid inflation is weakening the U.S. dollar to the point that food costs are rising regardless of how the markets are behaving.

All that “stimulus” money is also being pumped into the markets, allowing investors to speculate on food commodities and drive up their prices. All of these market forces are creating a hyperinflationary environment that is very concerning, especially for the already struggling lower and middle classes.

“For central banks, a spike in prices at a time of weak growth creates an unwelcome policy choice and could limit their ability to loosen policy,” Bloomberg claims.

The poorest and most politically unstable nations of the world are being hit hardest by the spike, as any significant volatility in raw materials prices threatens to make millions, if not billions, go hungry.

“The relentless rise in prices acts as a misery multiplier, driving millions deeper into hunger and desperation,” says Chris Nikoi, the World Food Programme’s regional director for West Africa, which is one of the poorest areas in the world.

It’s “pushing a basic meal beyond the reach of millions of poor families who were already struggling to get by,” he added.

Another factor driving higher food prices is increased demand from communist China for food imports. Corn prices nearly doubled last year because of China, while soybean prices and wheat prices increased by 80 percent and 30 percent, respectively.

Bad weather conditions in both the U.S. and Brazil, two major areas where crops are grown, are likewise exacerbating the problem. Analysists from Rabobank, Mintec, and HSBC Global Research all warn that prices could go even higher if the situation is not resolved somehow.

The effects of all this are already being seen in the form of higher prices for tortillas in Mexico, beef in Brazil and retail palm oil in Myanmar. Here in the U.S., bacon and other meat cuts are also on the rise.

“Generally, people see this inflation continuing,” says Tosin Jack, an analyst at Mintec, which monitors commodity prices. “The trend will continue for some time and it will translate into consumer goods.”

Post Views: 666
Previous Article

Of course! Factcheck.org’s COVID project funded by ...

Next Article

Dr. “Flip-Flop” Fauci finally allows vaccinated people ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • Health

    Could this be the most powerful superfood on the planet?

    October 13, 2018
    By admin
  • Health

    Drugs That May Kill You Before They Get The Chance to Cure You

    August 13, 2018
    By admin
  • Health

    Nature Reveals A Way For Our Body To Self Destroy Cancer

    January 4, 2019
    By admin
  • Health

    Milk thistle shows promise in treating liver cancer

    September 23, 2018
    By admin
  • Health

    Scientists develop home-testing kit that measures stress hormones

    February 17, 2020
    By admin
  • Health

    CO2 levels dangerously low for our planet; optimum levels of 800 – 1200 ppm would unleash reforestation, greening and food ...

    August 21, 2018
    By admin

Popupar Articles

  • Week
  • Month

Week

  • German scientists discove... (Natural News) Experimental covid vaccines are causing... 18 views
  • “Vaccidents” now wrecking... (Natural News) As post-vaccine deaths are now ravaging... 18 views
  • The Mental Health Benefit... (Natural News) As it controls virtually all aspects of... 17 views
  • Flu vaccines found to be... Flu vaccines may not be as effective in Caucasians as t... 16 views
  • The smartphone app that c... There are about 45 million people in the US alone with... 16 views
  • 7 Reasons why you’re brui... (Natural News) A bruise, also known as a contusion, is... 16 views
  • Drugs That May Kill You B... Millions of people have met with their untimely death w... 16 views
  • Dr. “Flip-Flop” Fauci fin... (Natural News) At the forefront of the covid-19 scanda... 15 views
  • Women who undergo in vitr... (Natural News) Pregnancy complications could lead to se... 15 views
  • The vaccine is the pandem... (Natural News) Arguably the most loathed fake presiden... 15 views

Month

  • Dr. “Flip-Flop” Fauci fin... (Natural News) At the forefront of the covid-19 scanda...
  • Flu vaccines found to be... Flu vaccines may not be as effective in Caucasians as t...
  • Young adults who previous... (Natural News) Young adults who previously contract th...
  • Pro-vaccine medical journ... Recent and previous studies show a clear causal relatio...
  • German scientists discove... (Natural News) Experimental covid vaccines are causing...
  • The vaccine is the pandem... (Natural News) Arguably the most loathed fake presiden...
  • “Vaccidents” now wrecking... (Natural News) As post-vaccine deaths are now ravaging...
  • 7 Reasons why you’re brui... (Natural News) A bruise, also known as a contusion, is...
  • How about a short workout... (Natural News) Researchers from the Martin Luther Unive...
  • 9 best sex toys for coupl... Looking to make things more exciting in the bedroom...



Recent Articles

  • Interesting Museums to Visit Around Arlington, VA
  • The Best Small Towns to Check Out in Western Canada
  • 56 reports of ‘adverse events’ following COVID-19 vaccinations in B.C.
  • Adverse Events Reported From COVID-19 Vaccine Trials: A Systematic Review
  • Neurologic adverse events among 704,003 first-dose recipients of the BNT162b2 mRNA COVID-19 vaccine in Mexico: A nationwide descriptive study
  • Alberta man says AstraZeneca shot led to serious health issue, wants federal compensation
  • Comirnaty and Spikevax: possible link to very rare cases of myocarditis and pericarditis
  • Are vaccines driving the emergence of “escape mutant” variants of COVID-19?
  • All of the Evidence Is In: The Covid Vaccine Is a Failure
  • Judge denies terminated firefighters’ request to be reinstated

Most Viewed Articles

No Posts found

Visitors

  • Home
  • Business
  • Entertainment
  • Food & Drink
  • Headline
  • Health
  • Editorials
  • Buzz
  • Lifestyle
  • Sports
  • Adults Only
  • Dating