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U.S. Food Prices Pork Out
FORBES ^ | March 30, 2008 | Miriam Marcus

Posted on 03/31/2008 12:33:26 PM PDT by Freedom_Is_Not_Free

If your diet consists entirely of bacon, you probably haven’t noticed that food prices in the United States are rising. Practically everything else is going up, and the respite for lovers of pork bellies is temporary.

Last week, the American Farm Bureau Federation, an organization of farmers and ranchers, announced the results of its quarterly Marketbasket Survey, and the outlook for producers and consumers is not great.

Every quarter since 1989, the federation has conducted an informal survey to determine the price of a basket of 16 basic food items an average American would purchase at a local grocery store. A 20-ounce loaf of white bread, a 32-ounce bottle of vegetable oil, a gallon of whole milk and one pound of pork chops are among the items surveyed.

Thursday’s report for the first quarter of 2008 saw an increase of $3.42, or 8.2%, to $45.03, from the previous quarter. The same standard bag of groceries was 8.9% more expensive than it was in the year-earlier quarter.

“Overall changes in retail food prices highlight that the United States food market is more greatly tied to the global situation and global markets than ever before,” said Jim Sartwelle, a federation economist.

An increasing demand for biodiesel, particularly in Europe, is driving price increases in all vegetable and animal-derived fat products, Sartwelle said. “If you are a consumer and you need Mazola for cake mix, at some level you are competing with biodiesel users somewhere else in the world.”

Runaway energy costs also help to drive up food prices. “Use of natural gas and diesel fuel in the production, packaging and transportation of goods from farm to table has exploded,” Sartwelle continued. “It’s all tied in to crude oil prices.”

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy
KEYWORDS: biodiesel; cornoil; dollar; economy; gasprices; inflation; recession

1 posted on 03/31/2008 12:33:29 PM PDT by Freedom_Is_Not_Free
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To: Freedom_Is_Not_Free
As liberals are wont to say: Drive ethanol cars and let the peasants eat bread!

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

2 posted on 03/31/2008 12:35:35 PM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: goldstategop

Inflation? What inflation?


3 posted on 03/31/2008 12:37:02 PM PDT by Freedom_Is_Not_Free
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To: Freedom_Is_Not_Free
>>If your diet consists entirely of bacon, you probably haven’t noticed that food prices in the United States are rising. <<

Man cannot live by bacon alone. But its fun to try.

Photobucket

Bacon is chocolate for men.
4 posted on 03/31/2008 12:38:37 PM PDT by gondramB (Preach the Gospel at all times, and when necessary, use words.)
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To: Freedom_Is_Not_Free

Stop the subsidies


5 posted on 03/31/2008 12:39:19 PM PDT by misterrob (Obama-Does America Need Another Jimmy Carter?)
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To: Freedom_Is_Not_Free

Be on alert: Sky is falling.


6 posted on 03/31/2008 12:40:46 PM PDT by Sam's Army
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To: gondramB

7 posted on 03/31/2008 12:41:53 PM PDT by Todd_Gray
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To: Freedom_Is_Not_Free

Are we tiring of watching oil prices? Should be follow pork bellies now?


8 posted on 03/31/2008 12:42:53 PM PDT by RightWhale (Clam down! avoid ataque de nervosa)
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To: Todd_Gray
Photobucket
9 posted on 03/31/2008 12:48:05 PM PDT by gondramB (Preach the Gospel at all times, and when necessary, use words.)
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To: gondramB

Maybe all the fatties in my office will loose some weight....but I doubt it.....I have a 300 pounder next to me that keeps those cheese doodle bags rolling along...blaa


10 posted on 03/31/2008 12:50:33 PM PDT by geege
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To: gondramB

Is that the equivalent of BDSM for Muslim men? LOL.


11 posted on 03/31/2008 1:26:41 PM PDT by Freedom_Is_Not_Free
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To: goldstategop

bump for bacon


12 posted on 03/31/2008 2:29:11 PM PDT by Oratam
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