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August 25, 2007
America has long had a relatively low price of food, a factor that, while contributing to the obsesity crisis in America, has also helped low-income people keep their families nourished. Now, the sharp price in the cost of corn -- brought about by ethanol mania -- has caused a spike in the price of corn that will increase the price of milk, among many other food items.
Conversely, the huge amount of farmland being devoted to the raising of corn is leading to other crops being underplanted. Eventually, those prices will be increasing as well-as scarcity of supply works to increase their prices. MSNBC reports.