Agriculture Groups Call on Congress to Investigate Food Prices

Agriculture Groups Call on Congress to Investigate Food Prices

WASHINGTON (June 12, 2008) – A broad coalition of agriculture interests today called on Congress to investigate ALL the reasons for rising food prices. Critics, citing biofuel production and higher commodity markets, have wrongly blamed record high food prices on farmers. “With 80 percent of the consumer retail food dollar occurring off the farm, I believe congressional hearings will find rising food prices the result of numerous factors,” NFU President Tom Buis said. “Food companies are trying to pass the blame on to farmers while many are enjoying record profits.” The groups recognized the affect higher food prices are having on consumers but reiterated the importance of studying the larger picture. With farmers receiving 20 cents of every food dollar consumers spend, other factors, such as labor and energy costs, financial speculation, increased demand, weather production losses, the weak dollar and even excess profiteering, have a more significant impact on food prices. “America’s farmers and ranchers have produced the safest, most abundant and affordable food supply in the world for more than 200 years. This challenge cannot be addressed through myths or finger-pointing, its time the complete story is told,” Buis said. In addition to National Farmers Union, American Farm Bureau Federation, National Corn Growers Association, American Soybean Association, National Sorghum Growers Association And National Association of Wheat Growers signed on to the coalition letter. Posted 6.17.08

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