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The Price of Food
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Editors: Meredith N. Fisher
Book Description:
U.S. food prices never seem to decline. Higher farm commodity prices and energy costs are the leading factors behind higher food prices. Farm commodity prices have surged because (1) demand for corn for ethanol is competing with food and feed for acreage; (2) global food grain and oilseed supplies are low due to poor harvests; (3) the weak dollar has increased U.S. exports; (4) rising incomes in large, rapidly emerging economies have changed eating habits; and (5) input costs have increased. Higher energy costs increase transportation, processing, and retail costs. Although the cost of commodities such as corn or wheat are a small part of the final retail price of most food products, they have risen enough to have an impact on retail prices. Generally, price changes at the farm level have a diminished impact on retail prices, especially for highly processed products. The impact of higher food prices on U.S. households varies according to income. Lower-income households spend a greater portion of their income on food and feel price hikes more acutely than high-income families. Higher food costs impact domestic food assistance efforts in numerous ways depending on whether benefits are indexed, enrollments are limited, or additional funds are made available. Higher food and transportation costs also reduce the impact of U.S. contributions of food aid under current budget constraints.

Table of Contents:

Price Determination in Agricultural Commodity Markets: A Primer;pp. 1-47
(Randy Schnepf)

Global Agricultural Supply and Demand: Factors Contributing to the Recent Increase in Food Commodity Prices;pp. 49-83
(Ronald Trostle)

Biofuels, International Food Prices, and the Poor;pp. 85-92
(Joachim von Braun)

Food Price Inflation: Causes and Impacts;pp. 93-102
(Tom Capehart and Joe Richardson)

High Wheat Prices: What Are the Issues?;pp 103-112
(Randy Schnepf)

Testimony of Jared Bernstein, Economic Policy Institute, House Committee on the Budget of the United States House of Representatives, Rising Food Prices: Budget Challenges (July 30, 2008);pp. 113-121
(Economic Policy Institute)

Testimony by Steve H. Hanke, Applied Economics, The Johns Hopkins University and The Cato Institute on Rising Food Prices: Budget Challenges Before Committee on the Budget, United States House of Representatives (July 30, 2008);pp. 123-127

Testimony of Jack Huttner, Biorefinery Business Development, GENENCOR, to the Senate Committee on Energy and Natural Resources Hearing: 'The Relationship Between Us Renewable Fuels Policy and Food Prices (June 12, 2008);pp. 129-133
(Biotechnology Industry Organization)

Statement of Joseph Glauber, Before the Committee on Energy and Natural Resources, United States Senate (June 12, 2008);pp. 135-152

Statement of Joseph Glauber, Before the Joint Economic Committee (May 1,2008);pp. 153-168


      Food Science and Technology
   Binding: Softcover
   Pub. Date: 2009 2nd Quarter
   Pages: 182 pp.
   ISBN: 978-1-60692-440-2
   Status: AV
Status Code Description
AN Announcing
FM Formatting
PP Page Proofs
FP Final Production
EP Editorial Production
PR At Prepress
AP At Press
AV Available
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The Price of Food