Crop Commodity Spikes Mean Higher Prices for Consumers
Updated: Jun 1
With the price of wheat spiking to an all-time high, Burt Flickinger discussed the implications for consumers with Liz Claman on the CLAMAN COUNTDOWN. The price of a box of cereal or pasta will not go down even when crop commodity costs decline because of brand manufacturer price-gouging, and consumers may go back to wearing plastic bread bags to protect their shoes as they did in the 70s when they couldn't afford to buy a new pair It's a crisis of unprecedented proportions that will be worse at the end of the year because Ukraine is the bread basket of the world and can't plant crops in wartime, combined with reduced production in Brazil, Argentina & Australia, and bad weather in the US & Canada as reported on FOXWEATHER.com. Production worldwide is going to be the worst it's been in several crop years.