Food prices are being kept high
The average UK household's annual food bill was more than £100 higher in 2012 than in 2011, putting a strain on household budgets.
In poorer countries, where people often spend most of their incomes on food, price rises have an even greater impact, forcing millions to go hungry.
One of the reasons prices have been rising so rapidly is that banks and hedge funds are pouring millions of pounds of speculative money into food futures markets, pushing prices beyond the levels dictated by supply and demand.
Access to food is a basic human right, and banks should not be allowed to play havoc with prices.
Cheap Van Insurance For 17,18 & 19 Year Old Drivers - Call Insure365 01782 898188, Free Legal Protection Cover Included valued at £25.00!
Terms: 1 Voucher Per Customer
Contact: 01782 898188
Valid until: Monday, June 24 2013
New legislation to limit food speculation is on the table at the EU, but George Osborne and his Treasury colleagues have so far blocked tough controls.
We must demand our politicians put the needs of hungry people, at home and abroad, before the profits of investment banks.
Penny Wakefield, Ellistown.
Would you please make your readers aware of a scam e-mail message regarding a refund from the tax office which I recently received.
I knew it was a scam because:
1: You don't usually have to apply for a tax refund.
2: Payment would not be restricted to one bank.
3: You would never be required to divulge your PIN.
4: HMRC does not sell anything so would not have a head of consumer sales and service.
If anyone receives this message it is important not to open any attachments or divulge your PIN number.
I have notified HMRC via its website but if you can make your readers aware it may save someone from falling foul of this scam.
John Richardson, Countesthorpe.
I would like to express my thanks to Mr Davies and his team and all doctors and nurses on Ward 21 at Leicester Royal Infirmary for the treatment I received during my recent four-week stay in hospital.
You were all wonderful, especially the nursing staff, despite being understaffed and overworked.
David Protheroe, Leicester.
3 Comments
by graydjames
Friday, March 22 2013, 8:53PM
“The language in Ms Wakefield's letter might be somewhat emotive but if you can't afford food then you are unquestionably denied access. Moreover, without food we die so I kind of think access to food ought to be seen as a basic human right. So I think the logic was right and most certainly not "baloney"; however, the question is to what extent are food futures pushing up prices to a point where a significant number of people are denied access.
Eastonian has totally missed the point about food futures. These are not at all the same thing as the type of markets he refers to where buyers and sellers come together and where demand and supply sets the price. That's the whole point. If they were we could do little about it and he would be right to accept the situation as a given.
The futures market means that the normal rules of supply and demand do not apply.
The point here is that artificial interference in the market by those who are effectively betting on the future price of food commodities can have the effect of pushing up prices. I for one do not think it is right, or fair, or ******ble, or even morally acceptable, that wealthy investors can be allowed to speculate in this way with a resulting adverse effect on those who live at the margin.
I struggle to see how anyone can find this acceptable.”
by Eastonian
Friday, March 22 2013, 10:17AM
“I appreciate an average of £1.92 per week must be a lot of money for some folk but let's keep things in perspective. And the suggestion that we are denied access to food at what the writer calls a basic human right is sheer baloney!!
Foodstuffs are a commodity just like oil, gas and a vast array of other items which have been bought and sold on world markets for centuries, it is the way business is carried out.”
by NickDiPerna1
Friday, March 22 2013, 8:02AM
“It's called inflation laddy. The printing of money doesn't help the situation.”