Monthly Archives: June 2014

Climate change to increase the cost of breakfast cereal

frosted flakesA new study by Oxfam International found that the cost of everyday breakfast cereals will see an increase in price as climate change begins to affect basic crops like rice, wheat and corn.

Over the next 15 years, the price of cereal is set to soar. The price of Kellogg’s Frosted Flakes in the U.S. could rice by 20 percent by 2020. Corn Flakes could also rise up to 30 percent in the U.S., and up to 44 percent in the UK, while the cost of General Mills’ Kix cereal could go up by between 12 and 24 percent in the U.S. And that’s on top of any other price increases due to inflation.

The new report, called “Standing on the Sidelines,” also calls out what Oxfam dubs the “Big 10” food and beverage companies for not doing enough to combat climate change by cutting emissions from their agricultural supply chains and lobbying for governmental action. Staples like corn and rice will double in cost by 2030, with half of that increase due to climate change, according to the report.

Breakfast cereal isn’t the only thing set to be impacted. Right now there is a particular fungus called coffee rust that is impacting crops across Central America. Climate change is being blamed for the fungus. Moreover, according to the Oxfam study, high temperatures killed up to 40 percent of Guatemala’s coffee harvests in 2013–2014.

Read the full story here.

Diesel price falls again, hits lowest point since January

The national average price for a gallon of on-highway diesel dropped again in the week ended June 2, though only slightly, falling seven-tenths of a cent to $3.918, according to the Department of Energy’s Energy Information Administration.0813gasprices

That’s the lowest average price since the week ended Jan. 27 and the fifth straight week the price has dropped.

The DOE predicted in April that the national average price would be $3.87 this summer, so the drops could be part of that decline.

Year over year, however, the price of diesel is up 4.9 cents from the same week a year ago.

Prices fall week to week in all regions nationally, except the Gulf Coast, which was unchanged.

The Central Atlantic region led all price drops with a 1.1-cent decline, followed by the Midwest’s 1-cent drop and the East Coast’s nine-tenths of a cent drop.

The New England region still has the nation’s most expensive diesel $4.124, followed by the Central Atlantic’s $4.116 and California’s $4.103.

The Gulf Coast region still has the country’s cheapest diesel, $3.783, followed by the Midwest’s $3.874 and the Lower Atlantic’s $3.910.

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