Monthly blog by senior staff on public policy + updates.
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It is a good time to be a farmer. Farm product prices rose 18% from 2006 to 2007. From the first quarter of 2007 to the first quarter of 2008, farm product prices went up 15% with crop prices jumping 20%.
Joseph Glauber, Chief Economist with the U.S. Department of Agriculture, testified before Congress last week on rising food prices. He recited a litany of factors influencing world food prices, including a string of poor wheat harvests in Australia, Canada and parts of the U.S., and growing demand for high quality food from rapidly-developing economies like China and India.