Featured Research

from universities, journals, and other organizations

What's behind rising food prices, beyond the U.S. drought

Date:
August 29, 2012
Source:
Saint Joseph's University
Summary:
Although many U.S. consumers were alarmed to see news reports this summer of droughts leaving shriveled crops dying in the fields, a professor of food marketing warns other factors will have a greater effect on Americans’ wallets.

American consumers like to send a message with their money, and recently, that message has been to support "local" food.

Consumers see buying from area farmers and producers as a good way to keep money and jobs close to home, improving the local economy while protecting American jobs.

But does buying local really make a significant economic difference?

"Everybody is looking for local food," says John Stanton, Ph.D., professor of food marketing. "But whether we like it or not, the food world is global and what happens in Brazil can have just as big an impact on U.S. consumers as what happens in Nebraska."

Although many U.S. consumers were alarmed to see news reports this summer of droughts leaving shriveled crops dying in the fields, Stanton warns other factors will have a greater effect on Americans' wallets.

"Price increases from the droughts are likely to have short-term effects, but global issues can have a longer and greater impact," Stanton explains, citing increasing demand from the rest of the world for crops like corn.

"The biggest cost in a box of corn flakes isn't the corn," Stanton says. "It's everything from the price of oil to transport the product to the marketing and the packaging. So something like the cost of oil will have a much more lasting effect on the price of your cereal than the supply of crops."

Stanton predicts higher food prices are an inevitability, whether the local food movement is here to stay or not.

"U.S. farmers are doing everything they can to keep America's food inexpensive," Stanton says. "But while I like to get my tomatoes from a local New Jersey farm stand or my mother's garden, most of the prices of the food products that I buy are likely to be just as affected by storms in China, a growing middle class in India, or drought in Argentina, as they are by a drought in the Midwest."


Story Source:

The above story is based on materials provided by Saint Joseph's University. Note: Materials may be edited for content and length.


Cite This Page:

Saint Joseph's University. "What's behind rising food prices, beyond the U.S. drought." ScienceDaily. ScienceDaily, 29 August 2012. <www.sciencedaily.com/releases/2012/08/120829103415.htm>.
Saint Joseph's University. (2012, August 29). What's behind rising food prices, beyond the U.S. drought. ScienceDaily. Retrieved July 28, 2014 from www.sciencedaily.com/releases/2012/08/120829103415.htm
Saint Joseph's University. "What's behind rising food prices, beyond the U.S. drought." ScienceDaily. www.sciencedaily.com/releases/2012/08/120829103415.htm (accessed July 28, 2014).

Share This




More Science & Society News

Monday, July 28, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

The Carbon Trap: US Exports Global Warming

The Carbon Trap: US Exports Global Warming

AP (July 28, 2014) AP Investigation: As the Obama administration weans the country off dirty fuels, energy companies are ramping-up overseas coal exports at a heavy price. (July 28) Video provided by AP
Powered by NewsLook.com
Russia Saves Gecko Sex Satellite, Media Has Some Fun With It

Russia Saves Gecko Sex Satellite, Media Has Some Fun With It

Newsy (July 27, 2014) The satellite is back under ground control after a tense few days, but with a gecko sex experiment on board, the media just couldn't help themselves. Video provided by Newsy
Powered by NewsLook.com
Losing Sleep Leaves You Vulnerable To 'False Memories'

Losing Sleep Leaves You Vulnerable To 'False Memories'

Newsy (July 27, 2014) A new study shows sleep deprivation can make it harder for people to remember specific details of an event. Video provided by Newsy
Powered by NewsLook.com
The New York Times Backs Pot Legalization

The New York Times Backs Pot Legalization

Newsy (July 27, 2014) The New York Times has officially endorsed the legalization of marijuana, but why now, and to what end? Video provided by Newsy
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins