Retail industry grows as ranchers fall
The Government Accountability Office reports that supermarket prices for food have climbed by 128-percent since 1982. That’s four times the increase in crop prices for farmers. The GAO report found that during the time period - farmers have generally received higher monthly prices for their commodities - but these prices have increased less than food prices and inflation in the broader economy.
Tom Buis - CEO of Growth Energy - says last year the Grocery Manufacturers Association developed a multimillion dollar misinformation campaign to blame American farmers and ethanol producers for higher food prices. He says this is another study that shines the light of truth on the whole food-versus-fuel fiction that Big Food was peddling.
To read the entire article, link here.