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Victoria food prices up...down


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#1 Bingo

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Posted 08 March 2011 - 06:14 PM

Global Food Prices Continue to Rise

by Steve Savage

What Is Driving This?
What is extraordinary about this trend is that for more than two decades before 2008, there were no spikes of this magnitude. To be entering a second such spike within three years suggests that something has fundamentally changed in the global food situation. It may well be that the current trend is simply a resumption of the 2008 phenomenon which was merely interrupted by the global recession. It is important to avoid oversimplification or alarmism here, but the most likely factors behind this phenomenon include:

- Rising overall population levels (likely to continue until ~2050-60)
- Rising standard of living in places like India and China
- Increased energy costs
- Increased biofuel demand
- Crop losses associated with weather extremes that are increasing because of climate change

Farmers will respond to the higher prices for their crops and will likely produce enough to dampen these trends, but they can only do so to the extent that the weather allows.


READ MORE;

http://www.reuters.com/article/2011/03/07/idUS197332275720110307

"I know nothing except the fact of my ignorance" - Socrates


#2 Baro

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Posted 08 March 2011 - 08:12 PM

With so many farming industries so heavily subsidized wouldn't the government just lower subsidies to match the increase in profits from the farmers, at least saving the tax payer some money?
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#3 Bernard

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Posted 09 March 2011 - 10:45 AM

With so many farming industries so heavily subsidized wouldn't the government just lower subsidies to match the increase in profits from the farmers, at least saving the tax payer some money?


Subsidies are an issue in some countries and not in others. Canada has a relatively low level of subsidies. Our biggest subsidy is through marketing boards. The US has some high subsidies of some products but their biggest 'subsidy' is ethanol production.

Also, keep in mind that what people in Canada are willing to pay for food is so much higher than the cost of production that the impact in Canada will be minimal. Buying a loaf of bread for $5 at Save on Foods is not unheard off, the amount of flour that goes into that loaf is at most a pound or so, an input cost of about $0.35 for them which might rise to $0.70.

People are consistently willing to pay in the order of $2 a pound for a lot of fruit. Replace that with BC apples and you cut your costs in half.

Overall the price of food commodities could double or triple and the average impact on people in Canada of maybe $5-$10 a week. We really spend very little of our incomes on food

#4 Bingo

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Posted 20 December 2011 - 02:28 PM

Consumer Price Index
October 2011

Consumer prices rose 2.9% in the 12 months to October, led by higher prices for gasoline and food. This follows a 3.2% increase in September.

12-month change: Prices up in all major components

On a year-over-year basis, prices increased in all eight major components in October.
Transportation and food post largest gains

Chart description: Transportation and food post largest increases

The cost of transportation increased 6.7% in the 12 months to October, following a 7.9% gain in September. In addition to paying more for gasoline, consumers paid more in passenger vehicle insurance premiums and for the purchase of passenger vehicles.

Food prices rose 4.3% on a year-over-year basis in October. Consumers paid 4.9% more for food purchased from stores as prices increased for common staples, including meat, bread, fresh vegetables and dairy products. Prices for food purchased from restaurants also went up (+3.1%).


Increases were recorded for gasoline and food purchased from stores in all provinces.

Prices in British Columbia went up 2.3% in the 12 months to October, following a 2.4% increase in September. Gasoline prices rose 17.8%. Consumers paid more for homeowners' home and mortgage insurance and for food purchased from restaurants.

(www.bankofcanada.ca/rates/price-indexes/cpi).

"I know nothing except the fact of my ignorance" - Socrates


#5 Nparker

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Posted 20 December 2011 - 02:34 PM

So in other words my wages slipped by nearly another 3% again this year. :mad:

#6 Mike K.

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Posted 20 December 2011 - 02:52 PM

If the government asserts rising energy costs are a major contributor of inflation than why on earth does the government not reduce the taxes it collects on energy? A liter of gas in Washington state is at least 40 cents cheaper per liter than it is immediately across the border in our province.

The government is making a windfall on fuel due to sustained high energy rates.

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July 15, 2014: [Mayor] Fortin told C-FAX's Bruce Williams that he expects the [Johnson Street Bridge] project to be completed "on time and on budget."


 



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