Food & Commodity Prices Are a Major Global Problem for Consumers & the Food Industry Overall, Business and Industry Trends Analysis

Since the mid-2000s, the upward march of prices for food commodities has been so dramatic that the cost of food has become a major concern on a global basis. This trend affects consumers, industry and government with a broad brush. Those feeling the most pain from rising food prices are consumers in low-income nations where food purchases account for a very large portion of monthly household budgets. Americans spend only about 10% of household income on food; the ratio can be 50% or more in nations with modest household incomes. In 2013 and early in2014, high food prices were a stark contrast to…

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