Global food price inflation esp poultry/chicken and beef. Why? Because many chickens and cows also got Covid, they also need vax to protect their high global supply?
One proximate reason is because corn -- main ingredient for poultry, beef, swine feed -- prices are back at high prices. No corn price spike last 2 years of Obama and full 4 years of Trump. Price hikes started when Biden was coming to the WH. Maybe because of his promise to cut US oil gas production to "save the planet", in the process shift to more biofuels, corn being used to feed cars, not people or farm animals.
China demand is only one of many factors. Like (a) high oil prices since Biden was elected, his campaign promise of cancel fracking in federal lands has cut US oil output; so (b) demand for biofuel rises, demand for corn in US alone rises. (c) not only cars, soon even planes will use biofuels, starting with US airlines.
Airline Execs Discuss Biofuel with Biden
Eric Worrall March
1, 2021
https://wattsupwiththat.com/2021/02/28/airline-execs-discuss-biofuel-with-biden/
Airline CEOs, Biden officials consider green-fuel breaks
By DAVID KOENIG February 27, 2021
An FT article made good points and has good data, high China demand for corn.
China’s record corn purchases have traders wondering if
bump can last
Prices surge to near eight-year high as demand from
Beijing fuels grain market rally
Emiko Terazono in London and Sun Yu in Beijing FEBRUARY
12 2021
https://www.ft.com/content/94b04a3e-6169-4b07-8218-413138c641a1
See also:
Agri Econ 30, Tractors controlled by local politicians, March 23, 2019
Agri Econ 31, Rising world rice prices, falling corn, poultry prices, May 24, 2020
Agri Econ 32, High global prices of corn, soybeans and wheat, January 27, 2021.
Agri Econ 30, Tractors controlled by local politicians, March 23, 2019
Agri Econ 31, Rising world rice prices, falling corn, poultry prices, May 24, 2020
Agri Econ 32, High global prices of corn, soybeans and wheat, January 27, 2021.
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