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Posts Tagged ‘food prices’

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Food prices rise sharply – and there’s more to come

For the first time since 2008, inflation is hitting consumers in the stomach.

Grocery prices grew by more than 1 1/2 times the overall rate of inflation this year, outpaced only by costs of transportation and medical care, according to numbers released Wednesday by the U.S. Bureau of Labor Statistics.

Economists predict that this is only the beginning. Fueled by the higher costs of wheat, sugar, corn, soybeans and energy, shoppers could see as much as a 4 percent increase at the supermarket checkout next year.

“I noticed just this month that my grocery bill for the same old stuff – cereal, eggs, milk, orange juice, peanut butter, bread – spiked $25,” said Sue Perry, deputy editor of ShopSmart magazine, a nonprofit publication from Consumer Reports. “It was a bit of sticker shock.”

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Food prices are going to be hit with a double whammy soon, the combination of shortages due the the extreme weather and inflation due to our government devaluing our dollar.

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Sugar soars to 30-year high as supply fears grow

The price of sugar has jumped to a 30-year high as the Brazilian harvest has tailed off sharply, hardening expectations of a shortage.

Traders believe that prices could soar over the coming months as the market faces a supply shortfall driven by smaller-than-forecast crops in important growing countries from Brazil to Russia and western Europe.

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Good article this week on Rapture Ready’s Nearing Midnight section…Food costs are rising throughout the world, especially the staples…

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Grain Yields Takes a Sudden Turn for the Worse

Oct 18, 2010

Grain Yields Takes a Sudden Turn for the Worse

I use several guidelines to determine which news event should be the focus of my “Nearing Midnight” articles. One of the most important rules I follow is to pursue stories that can be supported with repeated examples. If prophecy is progressing, we’re to likely see it have an impact on a number of areas. Earlier this year, I reported on major earthquakes in Haiti and Argentina, and I referenced a list of similar strong quakes that had occurred over the past decade.

We are now seeing a trend in food production. All over the world, crop yields have suddenly declined. Fears of a global food crisis swept the world’s commodity markets as prices for staples such as corn, rice, and wheat have shot up. The U.S. government sparked a huge grain rally when it warned of dramatically lower supplies. For the first time since 1997, the U.S. corn stock is expected to drop below 1 billion bushels.

The source of the problem is a host of adverse weather events. What is amazing here is the sudden run of bad luck for (more…)

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More concerns of food prices, right on cue, our global promoters the UN are stepping in to understand and assess the issue.  The article  lays outs some of the extent of the problem and areas that may be impacted the most…

According to a Wikipedia list of famines, the past 500 years have also witnessed an increase in the frequency of famines:

15th Century – 6 famines

16th Century – 10 famines

17th Century – 24 famines

18th Century – 28 famines

19th Century – 30 famines

20th Century – 44 famines

The first decade of the 21st Century alone has already witnessed 12 famines, putting humanity on course for 120 famines over the next one hundred year period.

Have these famines increased in intensity and severity?  Yes.

Revelation 6:6 (NIV) – “Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”

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UN holds key meeting on food price concerns

The BBC’s Jeremy Cooke examines the impact of wheat shortages on farmers and speculators in the US.

The UN’s Food and Agriculture Organization (FAO) is holding an extraordinary meeting in Rome sparked by global fears about high food prices.

Friday’s meeting will include Russian grain executives. Moscow banned exports after its harvest was hit by drought.

Flooding in Pakistan and China has added to pressure on the market.

Price rises have already sparked riots in Mozambique and are prompting fears of a massive price spike similar to that of 2007-8.

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