Posts Tagged ‘Emergency’

Supermarket landscape could be poised for shakeup if strike hits

Supermarket landscape could be poised for shakeup if strike hits.

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Record Chinese Drought Leads To “Crazy” Food Prices

The PBoC may be guilty of many things, but manipulating the weather is not one of them. Yet it is precisely this that is causing the latest surge in various food prices in the mainland, and which will likely force the Chinese central bank to accelerate its tightening regime even more than before. For once the weather can be blamed, only this time, due to an already redhot inflationary indicator, it will have a far broader impact on both domestic and global monetary policy. China Daily reports: “The impacts of China’s worst drought in 50 years have been served up on the nation’s dining tables as the price of rice and vegetables from drought-hit provinces have skyrocketed. The average price of staple foods in 50 cities has increased significantly, and the price of some leaf vegetables has jumped 16 percent in one month, according to data from the National Bureau of Statistics….I didn’t buy many leaf vegetables in the last week because the price is getting crazy,” said Zhang Weirong, a 67-year-old Shanghai resident.” We wish the PBoC the best of luck as it now has to use its futile monetary instruments to neutralize the lack of rain. With the Dragon Boat Festival hoiday between June 4 and 6, we now expect another interest rate hike to be announced in less than a week, in keeping with the central bank’s practice of intervening monetarily during major domestic and international holidays.

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More from China Daily:

Decreased production because of the drought has been cited as the major reason for price increases, and the prices of rice and vegetables may not drop soon, according to a report by the Ministry of Agriculture.

Statistics from the Office of State Flood Control and Drought Relief Headquarters show that an area of nearly 7 million hectares of arable land has been affected by the drought, with Hubei, Hunan, Jiangxi, Anhui and Jiangsu provinces most seriously affected.

“Cabbage used to be as cheap as paper, and for 5 yuan (77 cents) you would get too many cabbages to carry home,” she said.

She has had to switch to melons and pumpkins, which are getting cheaper this year.

She also changed from eating porridge for breakfast to noodles.

“My grandson said he doesn’t like the dishes I cook these days, but what else can I do?” she said.

Shoppers at a supermarket in Shanghai’s Huangpu district complained that the price of rice produced in Hubei increased 20 percent in one month to 2.6 yuan a kg. Lotus root produced in Hunan also climbed 20 percent during the same period to 4.2 yuan a kg.

In Wuhan, capital of drought-hit Hubei, the average price of 20 monitored vegetables climbed 7.3 percent in one month. The price of cabbage almost doubled in May to 2.22 yuan a kg, according to the Ministry of Agriculture.

The price of freshwater fish, crab and shrimp also witnessed a surge in the past week. Freshwater fish production in several provinces has reached bottom as lakes and rivers are drying up.

And the scariest thing for the PBoC’s Zhou Xiaochuan:

If food prices continue to soar during the summer, the increase may exceed 20 percent, which will push up inflation in the short term, Liu Ligang, an economist for the Greater China area with the ANZ Bank, said in his column for Financial Times.

It’s not all bad news: aphid lovers can rejoice:

On another note, Gao Wenqi, a researcher with the Shanghai Agricultural Technology Extension and Service Center, said the drought has provided better conditions for aphids to reproduce. Aphids can produce a new generation in days with no rain, said Gao.

Hopefully this will appease the population when they are starving and looking for scapegoats to blame for the complete supply collapse in already tight foodstocks.

Hunger crisis worsens, food system broken: Oxfam | Reuters

Hunger crisis worsens, food system broken: Oxfam | Reuters.

eFoods Global Rolls Out Acts of Kindness Currency to Purchase Food Reserves

eFoods Global Rolls Out Acts of Kindness Currency to Purchase Food

Acts of Kindness (AoK) Currency will change the way people think about food purchases and
potentially purchase all food storage products for free; the concept encourages people to no
longer think about how much money they have but rather how much kindness they can share.

Midvale, UT (PRWEB) May 08, 2011 — eFoods Global unveiled a new form of currency that will help people
across the country purchase food reserves for their families. Acts of Kindness (AoK) Currency now lets people
determine how much they want to spend on food storage without having to consider what’s in their bank
accounts.
“This isn’t just another money-making opportunity; our mission is to make sharing an act of kindness,” said
Jake Jensen, Executive Vice President of Sales and Operations. “We believe that paying it forward should
always pay you back, and our message is truly an act of kindness as we offer to help families take control of
food, our greatest dependency. Now the company is paying everyone back by sharing this message of good
will.”
Based on eFoods Global’s philosophy of serve, save, and share, AoK Currency is generated simply by sharing
the company’s message of preparedness. Each time someone visits a Preferred Customer’s referral link or an
Independent Business Owner’s website, takes the Food Freedom Tour, and redeems their free customized food
pack, eFoods Global will put $3–4 in the referrer’s account to be used towards the referrer’s next product
purchase. The more AoK Currency someone accumulates, the fewer dollars they’ll actually have to pay towards
their purchase.
“The AoK Currency concept is going to change the way that people think about money,” said Mike Casperson,
eFoods Global’s Vice President of Sales. “People will no longer ask, ‘how much does it cost?’ They’ll already
know the answer—the more they share our message of preparation with others, the more AoK Currency they
can acquire. It is no longer a matter of how much money you have but rather how much kindness you will
share. And they’ll figure out that they can take control of their lives without relying on money backed by the
U.S. government. Food and eFoods Global’s AoK Currency is the new currency people can rely on.”
The company’s goal is to have 10,000 people pay 100% of their monthly food reserves with AoK Currency. To
learn more about eFoods Global and the AoK Currency program, visit the company’s corporate website at
http://www.efoodsglobal.com or go to: http://www.sixfreemeals.com

Start Your Food Storage Program Today With The Best!

everyday-food-items-now-then-foxbiz: Personal Finance News from Yahoo! Finance

everyday-food-items-now-then-foxbiz: Personal Finance News from Yahoo! Finance.

Cap The Gene Spill – New video says GMO contamination of world is far worse than Gulf of Mexico oil spill

Cap The Gene Spill – New video says GMO contamination of world is far worse than Gulf of Mexico oil spill.

World Food Prices Rise to Near-Record High as Inflation Speeds Up, UN Says

By Rudy Ruitenberg – May 5, 2011 6:44 AM ET

Corn has almost doubled in the past 12 months. Photographer: Nadine Hutton/Bloomberg

World food prices rose to near a record in April as grain costs advanced, adding pressure to inflation that is accelerating from Beijing to Brasilia and spurring central banks to raise interest rates.

An index of 55 commodities rose to 232.1 points from 231 points in March, the United Nations’ Rome-based Food and Agriculture Organization said in a report on its website today. The gauge climbed to an all-time high of 237.2 in February before dropping 2.6 percent in March.

The cost of living in the U.S. rose at its fastest pace since December 2009 in the 12 months ended in March, the same month in which Chinese consumer prices rose by the most since 2008. The European Central Bank raised interest rates on April 7, joining ChinaIndia, Poland and Sweden in a bid to control inflation partly blamed on food costs. Costlier food also contributed to riots across northern Africa and the Middle East that toppled leaders in Egypt and Tunisia this year.

“There seems to be some easing for a lot of commodities, but whether this is demand rationing, we have to wait and see,” Abdolreza Abbassian, a senior economist at the FAO, said before the report. “If the weather is good, if plantings expand, I think we could see some relief in food prices.”

Sugar prices slumped 18 percent in New York last month, while milk futures fell 1.8 percent inChicago, U.S. wholesale beef prices dropped 3.4 percent and pork declined 2.2 percent. Wheat prices rose 5 percent in Chicago after falling the previous two months and corn jumped 9.1 percent.

Start Your Food Storage Program Today With The Best!

Corn Planting

Corn has almost doubled in the past 12 months on speculation that more planting in the U.S., the world’s largest grower, won’t be sufficient to rebuild global stocks. Wheat surged 57 percent over the same period and soybeans gained 39 percent as flooding ruined crops in Canada and Australia and drought reduced harvests in Russia and Europe.

Of the grains, corn “is the most worrisome,” Abbassian said in a statement. “We would need above-average, if not record, yields in the U.S.,” however, “plantings so far have been delayed considerably due to cool and wet conditions on the ground,” he said.

The FAO’s gauge of grain prices, which account for 27 percent of the overall index, jumped to its highest level since June 2008, advancing to 265.1 points in April from 251.2 the previous month.

Dry Weather

World grain stocks will probably slide for a second year in the 12 months through June 2012 as corn consumption outpaces production and dry weather hurts wheat prospects in the U.S. and the European Union, the International Grains Council said in a report April 20.

“With demand continuing strongly, prospects for a return to more normal prices hinge largely on how much production will increase and how much grain reserves are replenished in the new season,” David Hallam, the director of FAO’s Trade and Market division, said in a statement.

The FAO’s food-price index fell for eight months in a row after reaching its previous peak in June 2008, a situation that probably won’t be repeated this year, Concepcion Calpe, an economist at the UN agency, said last month. “Very strong” demand for food, feed and biofuel may mean prices will climb in coming months, she said.

Meat Prices

The index of meat prices, which make up 35 percent of the overall index, was little changed at 172.8, up 0.5 percentage point from the March level.

The FAO index of sugar prices fell to 347.8 points, the lowest level in seven months, from 372.3 in March. Cooking-oil prices slipped to 259.1 points in April from 259.9, while the dairy index fell to 228.7 from 234.4 in March.

Food output will have to climb by 70 percent from 2010 to 2050 as the world population swells to 9 billion and rising incomes boost meat and dairy consumption, the FAO forecasts. Producing 1 kilogram (2.2 pounds) of pork can take 3.5 kilograms of feed, U.S. Department of Agriculturedata shows.

About 44 million people have been pushed into poverty since June by the “dangerous levels” of food prices, World Bank President Robert Zoellick said in February. Another 10 million may join them should the UN food index rise another 10 percent, the World Bank said April 16. The number of hungry people in the world globally declined last year to 925 million from more than 1 billion in 2009, according to the FAO.

“A sliding dollar and increased oil prices are contributing to high food-commodity prices,” Hallam said.

To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net

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