Farm Input Costs Continue Driving Massive Food Inflation
John Boyd Jr., President of the National Black Farmers Association appears on Newsmax TV to discuss the ongoing issue of higher farm input costs. Energy costs, fertilizer costs, fuel costs as well as all packing and distribution costs that are associated with petroleum manufacturing, are continuing to drive farm costs throughout the supply chain.
After a review of the current farm output status, there is a very strong possibility we will see the fourth wave of food inflation hit this spring, in combination with several manufacturing and production facilities. Again, the lack of consumer spending on durable goods has moderated the price in hard goods (supplies up, demand down); however, the highly consumable products like food, fuel and energy continue to experience upward price pressure as a direct result of Biden energy policy. WATCH:
If consumers could eat missiles and weapons, the U.S. government would be offsetting the costs. Unfortunately, for actual farming products, there is no government attention, policy or support. Apparently, food is still not considered a national security issue.
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