{"id":12647,"date":"2011-06-07T11:51:30","date_gmt":"2011-06-07T17:51:30","guid":{"rendered":"http:\/\/blog.sustainablog.org\/?p=12647"},"modified":"2011-06-07T11:51:30","modified_gmt":"2011-06-07T17:51:30","slug":"food-price-spike-continues-but-slows","status":"publish","type":"post","link":"https:\/\/sustainablog.org\/articles\/food-price-spike-continues-but-slows\/","title":{"rendered":"Food Price Spike Continues But Slows"},"content":{"rendered":"<p><a href=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/06\/FAO-Index-6-7-111.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-12651\" src=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/06\/FAO-Index-6-7-111.jpg\" alt=\"\" width=\"500\" height=\"351\" srcset=\"https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/06\/FAO-Index-6-7-111.jpg 500w, https:\/\/sustainablog.org\/wp-content\/uploads\/2011\/06\/FAO-Index-6-7-111-300x210.jpg 300w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>Today, the UN Food and Agriculture Organization (FAO) released it&#8217;s <a title=\"A link to the FAO data\" href=\"http:\/\/www.fao.org\/worldfoodsituation\/FoodPricesIndex\/en\/\" target=\"_blank\">food price indices<\/a> for May 2011. \u00a0It was a mixture of somewhat encouraging news and not so encouraging news. \u00a0There are indications that we may have reached the peak of the spike at levels comparable to the last spike in 2008, but there is no sign of relief for those nations which are heavily dependent on international trade for their food purchases.<\/p>\n<p>Cereal prices are slightly down, but that is mainly driven by solid rice supplies and far better Russian and Ukrainian wheat harvests. \u00a0It is doubtful that the <a title=\"More troubles for replenishing wheat stocks\" href=\"http:\/\/www.bloomberg.com\/news\/2011-05-18\/corn-climbs-for-fifth-straight-day-as-wet-weather-may-delay-u-s-seeding.html\" target=\"_blank\">supplies<\/a> of corn and <a title=\"An article about how far behind the spring wheat crop is in 2011\" href=\"http:\/\/www.agriculture.com\/markets\/analysis\/wheat\/minn-leads-wheat-marketlouise-gartner_11-ar16983\" target=\"_blank\">spring wheat <\/a>will recover this year because of <a title=\"Reuters article on planting delays\" href=\"http:\/\/www.reuters.com\/article\/2011\/05\/26\/businesspro-us-markets-grains-idUSTRE74P0QL20110526\" target=\"_blank\">rain-driven delays<\/a> in planting in most of North America while Winter Wheat harvests in the US are being severely hurt by drought. \u00a0 The <a title=\"Reuters article on this issue\" href=\"http:\/\/www.reuters.com\/article\/2011\/05\/16\/usa-grains-wheat-idUSN1629685820110516\" target=\"_blank\">milling and baking industry<\/a> is very nervous about hard red spring wheat prices this fall.<\/p>\n<p>Meat and dairy prices continued to rise with the meat index now 37.4% higher than ever before. \u00a0Together these increases and decreases produce an overall food index value that is only 0.1% higher than <a title=\"Previous post in this series\" href=\"https:\/\/sustainablog.org\/world-food-prices-spike\/\" target=\"_blank\">April<\/a> but still 9% higher than the last peak. \u00a0Sugar prices (not shown) are on a very different cycle and are more than 10% down last month.<\/p>\n<p>Unless the 2011 growing season in North America turns out far better than expected, there is every reason to believe that this price spike will continue or worsen. \u00a0The next update will appear on 7\/7\/11.<\/p>\n<p>You can email me for a higher resolution copy of this graph at savage.sd@gmail.com. \u00a0My website is <a href=\"http:\/\/appliedmythology.blogspot.com\/2010_05_01_archive.html\">Applied Mythology<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, the UN Food and Agriculture Organization (FAO) released it&#8217;s food price indices for May 2011. \u00a0It was a mixture of somewhat encouraging news and not so encouraging news. \u00a0There&nbsp;[ &hellip; ]<\/p>\n","protected":false},"author":110,"featured_media":12648,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[5006,10,4799,3741,299,1365],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Food Price Spike Continues But Slows &#8226; Sustainablog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sustainablog.org\/articles\/food-price-spike-continues-but-slows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Food Price Spike Continues But Slows &#8226; Sustainablog\" \/>\n<meta property=\"og:description\" content=\"Today, the UN Food and Agriculture Organization (FAO) released it&#8217;s food price indices for May 2011. \u00a0It was a mixture of somewhat encouraging news and not so encouraging news. \u00a0There&nbsp;[ &hellip; 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