"Bioflation" means dinner’s going to cost you July 30, 2007
Posted by Al in : food,interesting,politics , trackbackWell, here’s something that I’ve vaguely been aware of for some time, but would never have been able to describe in a concise manner, which is what this interesting article does very well. Food production is slowing, stockpiles are shrinking, surpluses are getting rarer, and there’s suddenly a lot of Chinese with enough money to buy foods they wouldn’t have been able to 10 years ago. This means that the cost of food is going to go up, and may do so quite dramatically once the futures market stops buffering us from this fact.
I’m pretty sure that the weather patterns this year are not going to help either. In the UK crops have been waterlogged and ruined, whilst in Europe excessive heat and droughts have helped cut crop yield. Add to this the exodus of farm labourers in the developing world, into urban based jobs which require them to buy food, as well as the expansion of these conurbations removing land from agriculture, and you’ve got a situation where food may soon become more of a luxury than a staple. Be prepared for your shopping bills to rise noticeably in the near to mid future.
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