we may not be able to afford it!
Last year, when we asked if we [can] sustain the global food supply chain, we noted that global food reserves reached fifty, if not one hundred, year lows and that global shipping is currently responsible for 4.0% of all global climate change emissions due to an utter lack of regulatory requirements compared to the automative and trucking industries. This was pretty scary since it doesn’t take many natural disasters to wipe out a state’s (or country’s) crops.
According to this recent article in The Telegraph, global food prices have surpassed 2008 highs when shortages led to riots in a number of countries. Up for the sixth month in a row, primarily due to soaring sugar prices (which reached 398.4 points in December) and rises in cereals (which reached 237.6 points) and oil (which reached 263.0 points), the FAO Food Price Index was the highest since records began in 1990, reaching 214.7 points, topping the previous high of 213.5 in June 2008.
This does not bode well for the burgeoning poor, who have been out of work since the recession began in 2008.