Publish Date:

Who doesn’t love a good grilled cheese sandwich, bowl of ice cream, or a freshly grilled hamburger? All of these crowd favorites and more have been continuing to take a larger chunk of change out of the consumer’s pocket due to a global rise in food prices. Food prices reached a two-year high this past June due to the climb of meat, dairy and wheat prices internationally. There has been a growing demand for meat throughout the globe with beef being the fastest-growing meat category in Asia which in turn has let the U.S. begin shipping supplies to the Chinese market for the first time in 13 years. Analysts have estimated this could open up a multi-billion-dollar market for American producers in the coming decade. Also, butter has been the fasting growing in the dairy category, even leading to a severe butter shortage in France. (To learn more about “Buttergate” check one of our past blogs here) In the realm of all things wheat, cereal prices have skyrocketed due to the record-setting harvests of corn in South America this past year.