The fastest way to a man's wallet is through his stomach

Posted By Hugh Collins Friday, May 25, 2007 - 4:01 PM Share

grocery cart When dirt-poor Mexicans took to the streets in February to decry the rising cost of tortillas, they got barely a flicker of interest north of the border. But now the soaring prices of foodstuffs—corn, oils, wheat, you name it—are hitting the people with real power: western consumers and multinational corporations. Today's Financial Times reports that Hershey's, manufacturers of sickly-sweet American chocolate, has slashed its profit forecast due to prohibitively expensive milk. Few will shed a tear for Hershey's shareholders, but the plot thickens: from China to the the U.K., the price of food is growing at nearly twice the rate of overall inflation.

That's bad news for everyone, but there is a silver lining. If grocery bills continue to balloon, many in Europe and the US.. might wonder why their tax dollars should go towards subsidizing inefficient domestic farmers and keeping out the cheap produce of agricultural powerhouses like Brazil. This could be more than food for thought; it could be fuel for action.

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