Food costs at records, no let up on prices

Source: Reuters

World food prices hit a record in January and recent catastrophic weather around the globe could put yet more pressure on the cost of food, an issue that has already helped spark protests across the Middle East.

Up for the seventh month in a row, the closely watched Food and Agriculture Oganisation Food Price Index on Thursday touched its highest since records began in 1990, and topped the peak of 224.1 in June 2008, during the food crisis of 2007/08.

"The new figures clearly show that the upward pressure on world food prices is not abating. These high prices are likely to persist in the months to come," FAO economist and grains expert Abdolreza Abbassian said in a statement.

Surging food prices have come back into the spotlight after they helped fuel the discontent that toppled Tunisia's president in January and have spilled over to Egypt and Jordan, raising expectations other countries in the region would secure grain stocks to reassure their populations.



Read more: http://www.reuters.com/article/2011/02/03/idINIndia-54633520110203

Gas prices are through the roof, my Medicare supplement premiums increased by $24 a month, utility bills went up - it's going to be a long year.

3.85 gallon for kerosene (necessity for outdoor tanks in north and east) and about 3.55 a gallon for regular heating fuel. this is new york state. and yes no COLA???

I remember when it was not 'just a metaphor'. In the late 60's early 70's the elderly had a cruel choice between meds or food. There were many eating catfood tuna instead of buying tuna (then about the cheapest source of protein one could eat. That is when they started doing the cola adjustments. How quickly we forget.

It is no joke! Not too long ago I was at the grocery store and before me was an old man with 4 cans of cat food. He had about $1.00+ some change - short of what he needed for the 4 cans and it was not for a cat. Judging by his appearance he was about as broke as a human could possibly be. I gave the clerk at the register the balance due which wasn't much. Said man just looked at me and nodded his head and shuffled slowly out of the store.

God damn this country for allowing this sort of thing to go on!

If there is a COLA you can be assured it will be quickly sucked up by an increase in Medicare. :grr:

:kick:

And Medicare takes a chunk of it out of your other pocket.

Don't get me wrong. Medicare is wonderful. Everybody should have it and would if we weren't governed by wusses who don't have the guts to fight for it. But Medicare should cover everything. The last time I looked in the mirror my teeth and eyes were a part of my body. There is no reason why dental and eyeglass coverage should be excluded in Medicare.

Just the other day I was speaking with an acquaintance and said person stated that Medicare is free. I told this person that Medicare is not free and that some people can pay up wards of $200.00 a month for it (and that is without a supplemental plan) depending on what their income is. This person is married to a real right winger and I suspect their mind is being poisoned by the non-stop diatribe being spewed.

I was then asked, "How do you pay for this?". I told the person that the cost is deducted from one's Social Security check. :dunce:

I found this to be quite disturbing as this person works in a field which involves laws and practices surrounding worker's law and compensation.

I'm having to seriously consider if I can continue my relationship with this person as they seem to believe the B.S. they are hearing from a Tea Party fool.

The day will come when everyone eventually ends up on Medicare like it or not and no, it does not pay for everything and the limits can be reached quickly leaving one with some huge bills if they do not have a pricey supplemental plan to cover the rest of the costs not paid by Medicare (and this doesn't include "everything else").

I agree, it is shameful that Medicare doesn't cover dentistry nor eye glasses and many other things people need like specific types of durable medical equipment and oh yeah, drugs if you are a Part D participant.

As for the cat food, this too is nothing new nor shocking to me. I guess I lived in a large city for too long.

And yes, the change you can believe in is that any COLA you might see in the future will be sucked up immediately by an increase in the cost that one pays for Medicare. :grr:

:kick:

At least that's what corn farmers and many other say. Things would really be bad if using crops for fuel did increase food cost. But I guess it's not since corn farmers wouldn't lie to us and the government wouldn't do something to favor special interests, so let's move to 15% ethanol and only subsidize it in the US if it's made from corn.

The US biofuel industry is heavily subsidized and does increase food prices. Brazil's biofuels work using a different technology - they use cane sugar. This means the CO2 load is much lower, and the ethanol is much cheaper to produce. The key to the Brazilian industry has also been the gradual shift of land from cattle grazing to sugar cane production, or the use of land which was not being used. As the industry has grown it has also helped the rural population improve its earning power. They are still very poor, but things are improving, and hopefully it'll keep getting better.

prices of food crops HAVE gone up. Don't let anyone tell you any different.

And the change from other crops to biofuel crops does not do any good for the environment either.

http://e360.yale.edu/feature/the_case_against_biofuels_probing_ethanols_hidden_costs_/2251/

Remember "let them eat cake"? It was the price of bread that started the guillotines working.

The real tea party in the American colonies was about the price of tea. The tax was to prevent Americans from buying cheaper tea from local tea shops that got their supply from South America and NOT the East India Company, that the British aristocracy owned.

Seems Wall Street and speculators may inadvertently start another wave of revolution.

to determine if SS recipients get a COLA. It makes no sense.

Get it?

You people need to learn to appreciate the fine flavor of a DVD player or a flat screen TV! Cuz the prices dropping on those is what's important, not some crap like food or heating oil or gasoline. :sarcasm:

Limits have been removed in recent years I believe.

Speculators are trading up prices of basic commodities like wheat.

And 2011 isn't looking much better, unfortunately.

The realities of global climate change are about to bite the human race on the ass, and hard.

....and we were told there was no inflation last year....why would our corporate government lie to us?

....I remember when our war-mongering corporate government wanted cash to play war in the past, they would buy our support with domestic spending....now they don't even bother; the American peoples' support is no longer necessary for war, higher food prices or anything else....

"...upward pressure on world food prices is not abating."

....sad, our lying corporate government has become a private corporate cookie jar and cess-pool with our best interests no longer being considered....

Every school kid in American envies that power.

Unfortunately, as a result, 99 and 44/100% of all government reports are shit.

Be nice to see the REAL numbers, wouldn't it?

for 2010

TPTB need to make their money and that's the only thing that matters!

The govt. just saved printing costs on ration books, and big business figured out a way to make more of us suffer from their murderous choices.

is allegedly there to fight for the public interest -- but think they're busy

counting their money?

unfortunately- and I do not want to stereotype, but many of the truly elderly have health problems which interfere with their physical or cognitive ability. Younger retirees are squeezed between caring for elderly parents and jobless children or raising grandchildren (I read that more grandparents are guardians for grandchildren than ever before)
so right now it is so easy to screw us over

it would be in quite some conflict in its interests!!

AARP works to preserve and increase the PRIVATE and insurance interests in the program!

And, it's share of the take!!

I think they used to look out for the seniors, until they sold out.

meanwhile, seniors evidently have no idea that they need to unite -- and fast!

They take from the rest of us.

Source: Al Jazeera English

Problem is set to worsen after a massive snowstorm in the United States and floods in Australia.
Last Modified: Feb 04 2011 05:31 GMT

World food prices have hit their highest level on record in January, the United Nations has said.

It said on Thursday that its Food and Agriculture Organisation Food Price Index rose for the seventh month in a row to reach 231, topping the peak of 224.1 last seen in June 2008.

It is the highest level the index has reached since records began in 1990.

"The new figures clearly show that the upward pressure on world food prices is not abating. These high prices are likely to persist in the months to come," said Abdolreza Abbassian, an economist for FAO, which is based in Rome.

Rising food prices have been cited among the driving forces behind the recent popular revolts in north Africa, including the uprising in Egypt and the toppling of Tunisia's long-time president Zine El Abidine Ben Ali.

Read more: http://english.aljazeera.net/news/2011/02/20112442413591195.html

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I didn't look up any figures to back me up, but I believe food as a % age of income is still low in the US.

I remember when I was a kid food as a % age of income was much higher.

Also my friends grandma ran a farm back in the 30's and 40's and we were looking at her ledger book from back then and she actually made a good deal of her total income selling eggs which is a fairly marginal thing even for large producers now.

The question like always is how much of the increase now is going to the actual producers??

Maybe if oil goes up enough then long distance transport will cost $$ drive up the price of food more and farmers will get more money by selling direct to the community they live in.

... and it's ongoing debasement of the dollar via "quantitative easing". They are determined to save the banks and screw everyone else.