Posted on Leave a comment

Vegetable Oils – The Leader in Food Price Inflation

Positive Future #872 (Feature photo – Soybeans and Soybean Oils – CCA 2.0 Generic, United Soybean Board)

While basic food crops take top billing in our minds, you’re not quite there without vegetable oils. What would we do with lettuce greens and cooking our foods without vegetable oils?

The Food and Agriculture Organization (FAO) of the United Nations, keeps track of food price inflation for five major food groups – Meat, Dairy, Cereals (grains), Vegetable Oils, and Sugar. From September of 2020 Through September of 2021, following are the price increases  for each of these groups:

Meat: 26.2 Percent

Dairy: 15.2 Percent

Cereals: 27.4%

Vegetable Oils: 61.2 Percent

Sugar: 53.4%

 

All Together: 32.8 Percent

 

Food price increases are not only due to kinks in the supply chain, but a host of other factors that deserve further contemplation: 1. The financial incentives to keep food pipelines filled with the least amount of stocks. 2. The less than abundant fresh-water resources. 3.  Loss of farmland to urbanization, estimated at roughly 6 million acres a year globally – roughly equivalent to a farm that is 10 miles wide and 1,000 miles long.

Should media focus more time on issues surrounding food and agriculture?

Leave a Reply

Your email address will not be published. Required fields are marked *