Panic buying also hitting world food prices?

Question

Rice and pasta prices are rising, at the same time as a big supplier in US rations people to buying 4 bags at a time.

Bloody biofuels, panic buying and profiteering!

What are your thoughts on the food crisis??

Answer 1

A 20 pound bag of rice lasts 6-12 months in my house.  Unless you have some sort of bizarre rice fetish, or have 30 kids, I don't see how anyone would eat 80 lbs of (dry!!) rice in a week.

I think only restaurant owners/caterers (that often use Sam's club and such) will be affected, as they are big-volume consumers.

As usual, s***w business, as long as you feel "green".

I agree the ethanol craze is idiotic.  I'd be happy if efforts were put into thermal depolymerization of garbage to produce our fuels, but there is little government interest.  Fair bit of corporate interest, but the environmentalists hate it.  Beats me why.

Answer 2

Those 4 bags are 20 pound bags.  That's enough to last 5 - 10 years for most US homes.

Stores know that when they put 'Limited Edition' on a product, it sells better.

The US will run out of rice when I win the Tour de France.

Answer 3

Thoughts? Panic. You should see my larder and garage. I am looking at a storage place to rent this afternoon. Need somewhere to store the 2,000 tins of baked beans.

Answer 4

The biofuel craze is a fad that will pass as soon as it becomes obvious that ethanol does more damage than it is worth, and when the increased costs to consumers become politically unsustainable.  Already the diversion of corn from food to fuel has caused run-ups in the prices of a wide range of food items.  The first to suffer in a big way will be the teeming impoverished masses of overpopulated Third World countries; tens of millions of them will end up dying from starvation.

The kick in the pants for US consumers is this: the rush to force ethanol down their throats has resulted in this:

1) reduced gas mileage in their cars, so they must buy more gas as prices are rising.

2) Higher prices in the supermarkets

3) Higer taxes in the form of subsidies to benefit ethanol production.

The net result for consumers is that ethanol production is increasing their costs 3 ways, and all this extra money being shelled out for ethanol is ending up in the pockets of the well-connected politicians and speculators.

Ethanol will simply serve to drive up the cost of both food and fuel.

Answer 5

yes,i think so

Answer 6

biofuel is not the problem it's a help to fix it

bio is the waste not fit for human consumption

food prices are going up because of the GREEDY oil manufacturers who know darn well oil has nothing to do with GAS

GAS comes from the run off it's not in those oil tanks that come across the seas it's in tanks all its own.

It's called DRIP and we are not paying for it we are paying for the new highrises and money launderers in high places

food is going up because the price of oil which has NOTHING to do with gas

Answer 7

its ridiculous but its all got to do with supply and demand