Global food prices at two-year high

By: Curtis Wayne 0 Comments   7/7/2017

It looks like the trillions in money printing by Central Banks around the world has finally starting showing up in higher food prices.  

According to a new UN report,  

“International food prices soared to around two-year highs during June, fueled by higher prices for wheat, meats and dairy products such as butter. 

In fact, global meat prices have risen every month so far this year, and the gains have outpaced most other major food commodity groups, according to data released Thursday by a United Nations agency.”

This is going to increase the value of producing your own food and begin to increase the demand for gardening tools.  But much of the increases are in meats, which cannot be grown in a garden.

Since most of the increases are in meats at least for now, this trend will help the beef, pork and chicken producers and the states that have these businesses.  

Food inflation has been keep low the last few years by the record low oil prices, which is the primary cost in delivery of foods.  When oil prices begin to rise, it will quickly push up the prices of all foods.  

But for now, the weakening economy and massive over-leveraged oil industry has forced them to continue pumping lots of oil and that has kept oil prices below $45-50.

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