World Food Markets in Turmoil, Washington Sleeps
by Lloyd Alter, Toronto on 04.24.08
Guarding rice in Manila, Romeo Ranoco/Reuters via the star
They are rationing rice at Sam's Club and Costco; in Manila they have to post guards around it. All over the world, food prices are rising and supplies are disrupted as people start hoarding.
In Washington, the $300 billion Farm Bill plods on as it has for months. It has $5.2 billion dollars in direct payments to farmers as their income hits record highs. David Herszenhorn writes in the New York Times:
'It will not change biofuel mandates that are directing more corn to ethanol and contributing to a global rise in food prices. It will do little to ease worldwide food shortages. And at a time of high volatility in the futures markets, it will not require tougher regulation.In other words, Congress seems oblivious.
“It really is astounding,” said Representative Ron Kind, Democrat of Wisconsin, who has pushed for broad changes in farm subsidy programs. “It’s as if this farm bill is being negotiated in a vacuum.” ::New York Times
UPDATE: Great post on Grist by Bill Chameides: How Congress is shortchanging our health and sweetening things for the food industry
Thirsty for more? Check out these related articles:
- $5 Billion in Corn Ethanol Subsidies Should Be Eliminated, Food Before Fuel Urges
- Countries Falling Behind As World's Oceans Are Still "Vastly Under-Protected": Study
- American Food System Fertilized With Industrial Chemical Melamine
- US Farmer’s Incomes Now Tied More to Ethanol Than Food, Economist Says
They need to keel these biofuel mandates NOW, and stop subsidies NOW. Can't they see their distortions are making the poor starve?
Don't make the farmers sound bad. Most of them actually lose money on the crops they sell, and this has sucked them further into a viscious cycle of industrialization. The people who really benefit from these subsidies are the agribusiness companies.
Hey, just an FYI - I went to Costco north of Seattle yesterday and bought ten bags (each 10 lbs) of rice with no problem.
To give this story some historical perspective so I don't come off as too conspiratorial. Remember back to the Bangladesh/British textile debacle or more recently Enron? I am sure there are a million more, but it is early.I am sick of paying out the nose to make these captains of industry rich!
"By diverting crops for fuel, prices have exploded, and five "Ag biotech" giants are exploiting it. Their solution - make all crops GMO, tout it as a way to increase output and reduce costs, and claim it's the solution to today's soaring prices and world hunger.Consumers in rich countries feel it in supermarkets but in the world's poorest ones people are starving. The reason - soaring food prices, and it's triggered riots around the world in places like Mexico, Indonesia, Yemen, the Philippines, Cambodia, Morocco, Senegal, Uzbekistan, Guinea, Mauritania, Egypt, Cameroon, Bangladesh, Burkina Faso, Ivory Coast, Peru, Bolivia and Haiti that was once nearly food self-sufficient but now relies on imports for most of its supply and (like other food-importing countries) is at the mercy of agribusiness."
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Are my comments going to be posted?
I posted on this subject on Firefighter Blog more than once in the last few days. Costco is limiting rice purchases in Fresno California as I was only allowed to buy one 15 pound bag of white rice.
The store supply of Uncle Ben's rice was wiped out by owners of Asian restaurants in town.
It's really not about rice per se but about commodities in general due to the disruption caused by farmers chasing ethenol by planting corn.
My contention is truckers will eventually strike and ensuing shortages will create panic.
I hope not but am ready just in case.