Food Inflation: Tight Grain, Oilseed Supplies to Keep Prices Elevated – IOTW Report

Food Inflation: Tight Grain, Oilseed Supplies to Keep Prices Elevated

Epoch Times: SINGAPORE—Drought or too much rain, the war in Ukraine, and high energy costs look set to curb global farm production again next year, tightening supplies, even as high prices encourage farmers to boost planting.

Production of staples such as rice and wheat is unlikely to replenish depleted inventories, at least in the first half of 2023, while crops producing edible oils are suffering from adverse weather in Latin America and Southeast Asia.

“The world needs record crops to satisfy demand. In 2023, we absolutely need to do better than this year,” said Ole Houe, director of advisory services at agriculture brokerage IKON Commodities in Sydney.

“As this stage, it looks highly unlikely, if we look at the global production prospects for cereals and oilseeds.”

Wheat, corn, and palm oil futures have from dropped from record or multi-year highs but prices in the retail market remain elevated and tight supplies are forecast to support prices in 2023. MORE

7 Comments on Food Inflation: Tight Grain, Oilseed Supplies to Keep Prices Elevated

  1. I render my own fat from the 1/2 side trimmings that I have the butcher include. Seed oils are poison. Made a couple slabs of lamb breast last week, ended up with close to a quart of delicious fat. Maybe nows a good time to back off that crap, hmmm?

  2. Food prices are high by design. This is nothing less than the deliberate and systematic starvation of a population. Just the latest attempt to inflict straight up genocide.

    We saw it in the Irish Potato famine and the Holodomor, man-made famine that convulsed the Soviet republic of Ukraine from 1932 to 1933, peaking in the late spring of 1933.

    Both examples and all of the rest, and there are many examples, were directed from on high by self identified masterminds.

    The latter example above was covered up by Walter Duranty: The New York Times was criticized for the work of reporter Walter Duranty, who served as its Moscow bureau chief from 1922 through 1936. Duranty wrote a series of stories in 1931 on the Soviet Union and won a Pulitzer Prize for his work at that time; however, he has been criticized for his denial of widespread famine, most particularly the Holodomor, the Ukraine famine in the 1930s.

    The Marxist/progressives stick to the same playbook. FYI, this is an element of what the rending of garments and gnashing of teeth regarding them losing total control of the media is all about.

  3. on another note: I had to visit three stores to buy a couple pounds of dry lima beans a couple weeks ago. This week It took me three stores again to buy dry bean soup and I couldn’t even begin to find seven or eight varieties and combine them on my own.


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