Could we really run out of food?

Not by Fire but by Ice

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Could we really run out of food?
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6 Mar 08 – "Biofuel production, poor harvests and emerging nations' growing appetites are emptying the world's pantry, sending prices soaring. It's a good time to invest in agricultural stocks.

"Experts say the world is now facing down the barrel of the worst catastrophe of all: famine.

"The very idea that the modern world could run out of food seems ludicrous, but that is the flip side, or cause, of the tremendous recent increase in the cost of raw wheat, corn, rice, oats and soybeans. Food prices are not escalating because speculators have run them up for sport and profit, but because accelerating demand in developing nations, biofuel production and poor harvests in some areas have made basic foodstuffs truly scarce.

"Wheat futures prices have tripled since 2004, corn prices have almost tripled since 2005, and soybeans have tripled since 2006. Meanwhile, crude oil is up merely 60% in the past three years, which makes it seem very bearable in comparison. A large pepperoni pizza these days costs about as much as a share of Citigroup (Citigroup finished Wednesday at $22.15.)

"This is no joke, already, in Asia. Rice prices surged to a 20-year high this week -- more than $18 per hundred pounds - as countries that have the most are hoarding it for their own people. Vietnam, India and Egypt have restricted exports to keep local markets stocked. Thai, Philippine and Indonesian officials are warning of civil unrest if the flow of rice does not increase....."

http://finance.sympatico.msn.ca/Investing/JonMarkman/Article.aspx?cp-documentid=6424206









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