The Worst Buzz Term: Food Security

World Grain Demand Straining U.S. Supply

Consumers usually reduce their purchases of goods and services if prices become too high. Buyers of United States corn, soybeans and wheat seem to be ignoring that economic principle, however, as the nation‘s grain stocks reach critically low levels, said Chris Hurt, a Purdue University agricultural economist. With global demand for grain and oilseeds at record levels and a weak U.S. dollar, foreign buyers are outbidding domestic buyers for American grain. While the higher commodity prices are good for crop agriculture there are disconcerting downsides, Hurt said. “Food consumers worldwide are going to have to pay more,” Hurt said. “We ended 2007 with our monthly inflation rate on food nearly 5 percent higher. I think we‘ll see times in 2008 where the food inflation rate might be as much as 6 percent. “I also think we‘ll have discussions about food security in 2008. We‘ll have discussions about whether we should allow the foreign sector to buy our food. Is food a strategic item that we need to keep in our country?”

Which of the three stooges mainstream sellouts prominent candidates for the Presidency have mentioned this?

Explore posts in the same categories: C.O.A.T. - Food

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