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Malcolm, food prices are not at least for this season due to speculation, It is due to a genuine shortage from a serious of events , Wheat prices went up firstly due to a drought from so called Eastern bloc countries (Russia, Ukraine, Poland etc) which consequently baned exports (the Eastern bloc being the china of the food world)... Australia, and USA then announced that there yields were down, just as Russia announced the double whammy that because of the extreme conditions large areas would not be planted for the coming season, Europe then got twitchy and as sterling is week to the Euro they imported a helluva allot of our crop, merchants then realized they may have oversold and the millers then got twitchy in the UK, Then just to add fuel to fire Ireland's Economy collapsed and they exported everything to the highest bidder (IE Europe) leaving the shelfs here Barron for things like beef in the UK, To boot all the inputs to produce, Fertilizers, fuel machinery have also been spiraling out of control upwards..
God had more of a hand in this lot than the speculators TBH...
Incidentally as a commodity the supermarkets are paying about 12ppl for milk and the ingredients for a loaf of bread equate to less than 12p, the rise in wheat has added only about 4p onto that.... that would be a rant tho, and I wouldn't go there
God had more of a hand in this lot than the speculators TBH...
Incidentally as a commodity the supermarkets are paying about 12ppl for milk and the ingredients for a loaf of bread equate to less than 12p, the rise in wheat has added only about 4p onto that.... that would be a rant tho, and I wouldn't go there
