We live in a global economy, that’s not new. But some facts just point that out in an amazing way. I sometimes find it fascinating to see how seemingly unrelated things affect one another. Financial times have reported that retail food prices are expected to rise in 2007 in the sharpest rate for the last 30 years.
But what I find interesting is what is affecting these prices. According to the report, the ongoing growth in use of bio diesels as well as the tremendous growth in certain economies such as China and India are affecting the cost of production. The next time you fill your tank with bio diesel, think of the higher corn prices you are paying at the market and you will understand that you can’t burn your corn and eat it too.
