Are You Willing to Pay for High Food Prices?
Published by Cost of living.
Food.
English: A display of six ears of field corn with dented yellow kernels (Zea mays var. indentata) which won ribbons for “best of show” at the Steele County Fair in Owatonna, Minnesota (Photo credit: Wikipedia)
The summer heat is upon us. With record temperatures of 100 and over, this season has proven to be one of a challenge and danger scenarios. Danger because of the risk of heat strokes. At risk is the Senior citizens who cannot afford an air conditioner to cool down their homes. Thank God that there are social and community programs that are providing them with fans.
Expect high energy bills and outages. The heat can be so intense that, even, with a good heating and air system, you can still feel its effects. The thing that concerns me is the high price of food and produce. In certain areas of the country, some states have reported severe drought. High temperatures have reduced the crop of corn. It may be a good time for speculators in Wall Street to make a bundle, but bad news for the consumers.
You may reason, I can do without corn, but my friend, corn is in everything. Chicken and cattle get fed from corn. If corn goes up, your poultry and steak can go up as well. That soda that you enjoy drinking? The high fructose is made from corn. Corn is, also, used in cooking oils and ethanol. Some glue products are made from corn. So, if you connect the dots, corn affects us one way or another. This in, itself, can cause food prices to go up to 5%!
The good news is that we have been through this before in years past and managed to weather the storm. The other good news is that our rice and wheat levels are normal and policymakers do not see danger ahead. I hope so. If you ever prayed, now is the time to start. A prayer for rain in our drought-stricken states is, surely, needed.
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