How Rising Food Prices Will Affect You & 6 Ways to Prepare

Sunday, May 1, 2011
By Paul Martin

by Kalen Smith
MoneyCrashers.com

The rising price of gas isn’t the only necessity that’s been gouging our wallets recently. The price of food is now the highest it has been since 1974, and the world is starting to face what could turn into one of the worst food crises in decades.

While America has typically been the land of plenty, we’ll start to feel the burden along with other citizens all over the world. Though the situation looks bleak, there are things we can do to help.

But first, let’s look at what’s caused the increase in food prices to begin with.

Causes of Food Price Increases
1. La Niña and Weather-related Issues
A variety of weather problems have taken place around the world and have caused significant damage to crops:

Australia and Brazil have experienced some of their worst floods on record.

Russia and China experienced their worst drought in over 100 years. In the U.S., Texas and the Midwest are also experiencing the worst drought in almost 50 years. As a result, many countries that have typically been major exporters of food products have had to import food this year.

This is also the first time in years that Florida, Texas, and Mexico were all hit by a frost at the same time. These events have decimated the supply of wheat, corn, and many types of produce.

As the supplies of wheat have decreased, ranchers have had to respond by reducing their supply of cattle, which has caused an increase in the price of beef.

The Rest…HERE

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