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Study: Food Prices to Double

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  • Description

    FBN's Tracy Byrnes breaks down a new report that predicts food prices will double in the next 20 years.

  • Duration 2:15
  • Date

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This transcript is automatically generated

Think food prices are high now -- things could get much worse.

According to a new report by the time Tracy -- makes her maiden voyage to a target superstore corn is gonna sell for about 42 dollars and ear.

Tuesday and Tracy is here Tuesday's in the Tracy is a long term -- -- -- -- all your scripts are just the ones that pertain to.

That is honor I don't particularly.

Appeared tailored making fun of you some of that on the -- Never been to a target now they do you think he'll be there since the price is it is a long term view but it's still kind of alarming when you -- -- I think it's -- -- scary yet although.

It's -- fancy take -- -- -- international aid agencies basically saying that in twenty years the price of corn and -- blamed him completely in the fact that our crops are not yielding anymore -- status while.

And of course we have -- changes in the weather is a big unknown at this point.

But this bothers me -- and a body to -- your mother.

925 million people are hungry right now it will be a billion before the end of the year and so what Oxfam is saying that we don't do something.

This is going to get worse like 2050.

The demand for food will be up another 70%.

And again food production is not changing because crops -- not yielding anymore and we know that.

There's only so much -- -- we know hedge funds are buying land now because it's it's.

Hot commodity and they're planting corn for ethanol exactly corn for food so what are the suggestions -- because we know we're seeing this explosion of the Democrats who want.

Meet you want real he's got to blame high end a commodity traders and they're saying that we need to regulate foreign prices in them that.

Certainly has something to do with it but it's also on the production side that we need to start thinking about it and maybe.

We have to really have a series -- -- -- now.

Yet they did talk to any subsidies -- biofuels I've that about a bomb with that.

Investing in smaller farms too because as you were saying this will be is almost a corporations are going out -- buying up all this land.

And we internationally around the globe there's smaller farms that certainly contributed feeding.

All these the billions of people that are -- Right and you know we talk about -- doing some micro lending maybe -- you know it wouldn't be so terrible if you have these companies start to make loans to the farmers farmers could use the help -- sensitive -- and that way.

Let's cut out the ethanol subsidy micro lending that's actually great idea connect and we you know -- -- solve the world's problems and I think that's doing thanks Christine appreciate it.

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