Food could soon hold a greater value than gold to many people of the world with rising prices, civil unrest and food products such as corn being converted into fuel. Americans could come to understand what other countries such as Egypt already know.
Regardless what country you live in everyone could agree they have felt an increase in food prices over the past few months. One such country as report by the world news outlet Russia Today who reported on February 16 that food prices in Egypt were climbing. In a country where the average Egyptian citizen lives on a budget of only two U.S. dollars a day, raising food prices pose a real threat to the well-being of many Egyptian families. In protest to the rising food prices, Egyptians have taken to the streets.
Elsewhere, in the United States families are feeling the pinch at the food register as well. With prices out-pacing the cost of gas and meat; prices are out of reach for many struggling families, many of them, are forced to turn to over stretched food banks that rely on donations or are forced to sign up for public assistance.
As reported on RT, the U.S. government plans to cut the amount of food stamps (food vouchers issued by the government that spend like money) to families in the next year coupled with raising prices will mean less on many family dinner tables.
In addition, economics dictate when unemployment rises and incomes decrease; the sales of inferior goods increase such as rice and beans and off brand products. In turn, with the increase in consumption of these staples and less consumption of others such as meats, fruits, and vegetables this could have a serious impact on the health of families struggling making them more susceptible to sickness and disease resulting in an increase in health care claims and loss time and production.
Many experts and non-experts have suggested to edge your bets against raising food prices by stock piling food now while prices, which seem high, are lower than experts predict for the near future. However, many families are unable to afford to eat today, let alone buy extra for the future.
It is also worth mentioning, with a portion of American grown corn crops going toward the production of ethanol gasoline (which produces less energy per pound than oil) there will be even higher prices on products that contain corn oil or are directly made with corn.
Also, rising instability in the world creates either real or fictitious crisis which drive up the cost of fuel for farms and the trucks that hauls their goods, either to travel by train or directly to market.