Load Up the Pantry
 April 24, 2008
I don't want to alarm anybody, but maybe it's time for Americans to start stockpiling food. No, this is not a drill. You've seen the TV footage of food riots in parts of the developing world. Yes, they're a long way away from the U.S. But most foodstuffs operate in a global market. When the cost of wheat soars in Asia, it will do the same here. Reality: Food prices are already rising here much faster than the returns you are likely to get from keeping your money in a bank or money-market fund. And there are very good reasons to believe prices on the shelves are about to start rising a lot faster. Full Story
UN Cuts School Children's Meals
 April 23, 2008
A "Silent Tsunami" unleashed by costlier food is threatening 100million people, the United Nations has warned, revealing that its World Food Program has begun cutting the provision of school meals to some of the world's poorest children as the global food-price crisis worsens. Aid bodies said there was enough food to go round but the key was to help the poor afford it, and urged producing nations not to curb exports to stockpile food at home. In London, the Prime Minister, Gordon Brown, said Britain would seek changes to EU biofuels targets if it was shown that planting crops for fuel was driving up food prices - a day after the bloc stood by its plans to boost biofuel use. Full Story
Japan's Hunger Becomes A
Dire Warning For Other Nations
 April 21, 2008
Mariko Watanabe admits she could have chosen a better time to take up baking. This week, when the Tokyo housewife visited her local Ito-Yokado supermarket to buy butter to make a cake, she found the shelves bare. "I went to another supermarket, and then another, and there was no butter at those either. Everywhere I went there were notices saying Japan has run out of butter. I couldn't believe it, this is the first time in my life I've wanted to try baking cakes and I can't get any butter," said the frustrated cook. Japan's acute butter shortage, which has confounded bakeries, restaurants and now families across the country, is the latest unforeseen result of the global agricultural commodities crisis. A sharp increase in the cost of imported cattle feed and a decline in milk imports, both of which are typically provided in large part by Australia, have prevented dairy farmers from keeping pace with demand. While soaring food prices have triggered rioting among the starving millions of the third world, in wealthy Japan they have forced a pampered population to contemplate the shocking possibility of a long-term, perhaps permanent, reduction in the quality and quantity of its food.
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Food Rationing Has arrived In America
 April 21, 2008
Many parts of America, long considered the breadbasket of the world, are now confronting a once unthinkable phenomenon: food rationing. Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also anecdotal reports that some consumers are hoarding grain stocks. Costco Warehouse in Mountain View, Calif., yesterday, shoppers grew frustrated and occasionally uttered expletives as they searched in vain for the large sacks of rice they usually buy. "Where's the rice?" an engineer from Palo Alto, Calif., Yajun Liu, said. "You should be able to buy something like rice. This is ridiculous." Full Story
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