wnyc.org / 93.9fm / am 820

Is it possible that what we are seeing is, in fact, a market reflection of what the real cost of producing food is? Have agricultural commodity prices been artificially low for the past decade (similar to oil prices before the early 70's "energy crisis")? Frankly, I don't mind seeing farmers make a little money for a change. Properly regulated commodity futures markets are an integral part of a system that allows commodities to be produced and sold in worlwide markets. Now the big question is what can be done to raise wages or in other words redistribute wealth / resources so that buying food around the world doesn't become like finding an affordable apartment in NYC.
Also, I would have liked to hear the Pope speak out about the contemporary world-wide food price / wage rate ratio issue. Of course at typical Vatican speed that would take about 10 years. Food price "unrest" will, of course, eventually lead to even higher oil prices.

david
where have u been?

yes great point maybe if we keep bringing it up someone will hear us.
my feeling is this is going to be growing problem as the world economy is totally unsustainable.

I'm sad to hear that WNYC's coverage of the food crisis ignores the entire issue of futures speculation inflating the prices of food commodities. Instead, your guest has provided us with the same red herrings of biofuel and bad weather, neither of which can come close to explaining the speed of the price spikes. Even though the United Nations and the international media have pointed their fingers at the commodities exchanges, the American media has been content to remain silent.

I'm sad to see that WNYC is no different.

Why doesn't anyone ever mention the increase in world population as a major reason for food shortages?

Yes, how is it possible that while food prices are rising by 50% or more -- companies that market foods are profiting by 50% or more? (Oil companies would never do this!)