On the front page of the Wall Street Journal last week, “grain companies prices soar as global food crisis mounts.” Farmers are making incredible profits since many grains and vegetables are in high demand. “The crisis stems from a combination of heightened demand for food from fast-growing developing countries like China and India, low grain stockpiles caused by bad weather, rising fuel prices and the increasing amount of land used to grow crops for ethanol and other biofuels rather than food.” Grain companies have responded by saying they will put the extra money towards technology development that will increase productivity.
Wow! when it rains it pours. I guess all these other countries populations just decided to eat? And no one saw this coming? Don't get me wrong, I think it's great that the american farmer is finally able to make a profit.
I have also heard that free range beef is making a comeback as too. People are more interested in beef that isn't coming from a overcrowded feed lots. Maybe the only upside to this (aside from safer beef) is that ranchers may finally be able to pay their mortgages as well as perserving a way of life.
Date: 2008-05-04 14:16:58