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Recommendations on how to deal with increase in price of food lead by the drought |
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Answer» High oil PRICES raise shipping costs. Food gets transported great distances. You can expect high gas prices about SIX weeks after an increase in oil futures. Oil prices also affect farming. Oil byproducts are a SIGNIFICANT component of fertilizer. That contributes 20% of the cost of raising grain. Between 2001 and 2007, high oil prices added 40% to the cost of growing corn, wheat, and soybeans. |
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