Browse > Home / Policy / Food Price Facts from Foodpricetruth.org

Food Price Facts from Foodpricetruth.org

June 27, 2008

foodpricetruthA new website, foodpricetruth.org, offers the following interesting factoids regarding corn and food prices.

Did you know:
The biggest reason food costs more today is fuel prices. USDA Secretary Schafer recently stated: “Higher oil prices affect much more than just the cost of driving; they are actually one of the major factors behind higher food costs.”

Did you know:
The USDA and the White House Council of Economic Advisors have stated that increased corn demand is only responsible for “3 percent of the more than 40 percent increase we have seen in world food prices this year.”

Did you know:
Ethanol should actually keep food prices down. According to Merrill Lynch, biofuels have reduced gasoline and diesel prices by 16-25%. If gas prices go up, food costs go up.

Did you know:
While it is true that U.S. food prices have increased about 4.5% this year, nearly all experts agree that today’s food price increases can be attributed to a combination of factors, including record oil prices, the declining value of the U.S. dollar, increased demand for grain from developing economies around the world, rampant speculation on the commodities market, weather related production shortages worldwide (especially wheat), and food company profiteering.

Did you know:
Weather related events have always affected food prices and that is no different today. In 2007, the U.S., Canada, Australia and Europe all experienced production shortfalls due to weather related causes.

Did you know:
Ethanol is made from “dent” or yellow “feed” corn. People accuse ethanol of increasing the price of beer, pasta and tortillas, which is curious because none of those products are made from “dent” corn.

  • Today in Biofuels Opinion: “Biofuels were developed in response to a very serious problem, they weren’t invented just for fun.”.
    • UN under-secretary general for humanitarian affairs John Holmes told AFP:  "I think we should avoid a knee-jerk response. Biofuels were developed in response to a very serious problem, which is the...
  • Advanced Biofuels Resource launches as most comprehensive biofuels reference tool: 330,000 facts, 5,000 pages
    • In Massachusetts, a 330,000 facts, 5,000 page digital resource for the biofuels industry, referencing 45,000 reports and articles, has been constructed and published by Garbrook Knowledge Resources. T...
  • Today in Biofuels Opinion: NY Times corrects, says poor countries, not G8 finance ministers, criticized Western biofuels policy
    • The New York Times corrected its major article on Western biofuel policy: "Because of an editing error, an article on Tuesday about the effect of biofuels on the price of food misidentified the repres...
  • Nebraska professor says ethanol not a “big contributor” to food price rise
    • In Nebraska, University of Nebraska-Lincoln economist Richard Perrin testified that "it's obvious that [ethanol is] not a very big contributor" to the rise in food prices, saying that grains make up 3...
  • China may become net food importer; more price rises for grains expected
    • A report from India points to rising demand from China as the source of rising world food prices. China, previously a food exporter, may become a net food importer this year....
  • Bureau of Labor Statistics says food price increases in line with historic trendline
    • A study by the Bureau of Labor Statistics showed that the price increase for milk, cheese, meat, ice cream, eggs and malt beverages in April 2006 with April 2007 was 3.0 percent, vs a 25-year annual i...

    Written by Jim Lane · Filed Under Policy 

    Comments

    One Response to “Food Price Facts from Foodpricetruth.org”

    1. gkaraff on July 9th, 2008 4:13 pm

      [Did you know:
      Ethanol is made from “dent” or yellow “feed” corn. People accuse ethanol of increasing the price of beer, pasta and tortillas, which is curious because "none of those products are made from “dent” corn".]

      Although the above statement is true releative to food price increases - the content in “” is not correct -

      #2 yellow dent corn or one of it’s many forms, corn starch, corn syrup is the substrate of choice of many commercial brewers when fermenting Beer.
      Corn tortillas are made from masa flour - milled from #2 dent corn.
      Pasta, by definition is a wheat product.

      Please be more careful with the accuracy of your contect - verification of a source is always necessary.

    Got something to say?

    You must be logged in to post a comment.