Soon we may find ourselves eating fewer types of food. Maybe only those we can produce locally. Back to the future. As world food and commodity prices surge can we expect food riots? The FAO Food Price Index (
FFPI) is up again, as foreseen, and is now at historic highs (some commodities have been this high for months already). It is the highest (in both real and nominal terms) since the index has been backtracked in 1990. Increased volatility, specualtion and price distortion (nothing new really), government interventions, unpredicatable events...well, enough doom and gloom: today the Rabbit Year begins; it is said to be fortunate and things will come more easily; the
Metal Rabbit promises to bring peace, joy, calmness and many happy moments...can't see it myself! Maybe it's the
Rabbit of Caerbannog!
2 comments:
Now go and change your armour!
Listened to somebody on the radio the other night discussing this very subject. We have to somehow move away from reliance on cattle, so much of our water and grain goes into rearing cattle. An American was saying that America is using cereal crops for bio fuels at such a rate that reserves are diminishing faster than at any point in history.
Indeed, the last peak in 2008 saw riots in Mexico becasue their 'tortilla' corn was due to be in short supply due to millions of hectares being put towards ethanol etc. Not just the US, Malaysia and Indonesia produce about 85% of the worlds palm oil between them and more and more is going to bio diesel, this is part of the reason the futures are so high.
Beef consumption is on the way down anyway, chicken and fish on the way up, naturally. Milk is better off as cows become more 'efficient'.
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