Food prices continue to rise worldwide

[Orwellian_Ghost]

Food prices continue to rise worldwide
By Naomi Spencer
25 February 2008

Recent developments in grain markets point to prolonged international supply shortages and price spikes, exposing billions of people to hunger and malnutrition.

US commodity exchanges have seen extreme volatility in the past week, with speculation on spring wheat crops driving per-bushel prices to record levels, while high oil prices and severe weather have contributed to rising corn and soybean prices.

...

The US Department of Agriculture (USDA) has warned that the nation’s wheat inventories are dropping dangerously low. In part, this is due to the fevered rate of exports driven by the weakening dollar and relative strengthening of currencies of many importing countries.

By June, the USDA projects that actual stores of wheat will fall by 40 percent, to the lowest level in three decades. Goldman Sachs’ February commodities report put world wheat stocks at the lowest level since 1948.

The world food shortage cannot be understood as a temporary phenomenon or a simple supply and demand dilemma. Rather, a number of complex and interrelated forces are behind the development, all of which underscore the inability of capitalist markets and institutions to rationally plan and provide for human needs.



http://www.wsws.org/articles/2008/feb2008/food-f25.shtml

[T.Ruth2power]

1. Some details on global hunger

http://www.worldhunger.org/articles/Learn/world%20hunger%20facts%202002.htm

[rubberducky]

2. It`s been many years since I had a sizable garden, but I`m planning

on a good size garden this year. I have an acre to work with.