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Article - Higher Food Prices Coming Due to Flooding

Discussion in 'The Main Board' started by twp, Sep 9, 2019.

  1. twp

    twp Administrator Staff Member

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  2. jimLE

    jimLE Well-Known Member

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    I've noticed lower gas prices in 2 different cities.$2.12 in one..and$2.11 in the other..while the price's remain the same in the city i live in.$2.39.it also seems like there's already a small rise on some food price's .
     
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  3. twp

    twp Administrator Staff Member

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    I've been watching food prices here, but not seen large changes (No decreases either). I'll speculate that the warehouses still have food which was purchased from producers under contract prices and until that is delivered to the grocers, we may (perhaps, maybe) not see big changes.

    I'm planning on higher food prices, across the board. Not sure when though...
     
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  4. jimLE

    jimLE Well-Known Member

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    good point about what's in the warehouse's. so the questons are.
    when will those foods run/sell out?

    when will the prices rise.?
     
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  5. twp

    twp Administrator Staff Member

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    Hard to guess. Some of the bigger warehouses work on a Just-In-Time schedule and were expecting a fall harvest to refill their warehouses. That points at running low right now, as the harvests were expected to be made. Suggests we can expect prices to start creeping (jumping?) up any time now.

    I could be very wrong on this, but I'd rather stock up now than wait for prices to rise.
     
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  6. Atlas

    Atlas Administrator Staff Member

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    My boy eats lots of corn flakes cereal. Price went up AND the box size went down.
     
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  7. twp

    twp Administrator Staff Member

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    I can remember cereal prices doing a yoyo with the box size/price, when I was a teenager. Standard marketing ploy to keep the customer from too much sticker shock...:eek:
     
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  8. jimLE

    jimLE Well-Known Member

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    the 2.11 gas price is now 2.24.
    and i noticed. one gas station here in town went from 2.39 up to 2.49.
     
  9. Atlas

    Atlas Administrator Staff Member

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    I'm seeing a similar rise in prices here too.
     
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  10. twp

    twp Administrator Staff Member

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    Since the Saudi say they will have their refineries back to full capacity in only a month (??) then these price rises may (perhaps) be in anticipation of more conflict in oil country.

    Iranian regime’s threatening behavior will not be tolerated, Pompeo tweets after meeting with Saudi crown prince
    https://www.arabnews.com/node/1556321

    Tanker markets await repair timeline after drone knocks out half of Saudi oil production
    https://lloydslist.maritimeintellig...drone-knocks-out-half-of-Saudi-oil-production

    Trump also appears ready to tap into the Petroleum Strategic Reserve which may be a price trigger point.
    Trump: US ready to tap strategic reserve after Saudi oil attack
    https://www.foxbusiness.com/energy/us-strategic-petroleum-reserve-saudi-oil-attack-kellyanne-conway
     
  11. Atlas

    Atlas Administrator Staff Member

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    We are in a wait and see status on Saudi oil. It may not effect us much, unless we start a war.
     
  12. twp

    twp Administrator Staff Member

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    Crossing fingers on this and hoping it is peacefully resolved.
     
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