Food & Water Watch examined and compared the monthly farmgate price of corn and retail price of ground beef, chicken, pork chops, and milk since 1980 and found:
- Contrary to widespread media reports, the long-term farmgate price of corn has fluctuated significantly and has exceeded oft-cited $2 per bushel during three quarters of the months between 1980 and 2006.
- The real, inflation-adjusted price of corn has trended downwards since 1980 from an average of $6 per bushel in the early 1980s to $2.37 two decades later.
- During periods of farmgate corn price increases similar to the recent rise, there has been little interplay with retail food costs – in many cases retail food prices fell as corn prices rose.
The full analysis is available HERE.
Source: Food and Water Watch.org
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