Japan's acute butter shortage, which has confounded bakeries,
restaurants and now families across the country, is the latest
unforeseen result of the global agricultural commodities crisis.
A sharp increase in the cost of imported cattle feed and a decline in
milk imports, both of which are typically provided in large part by
Australia, have prevented dairy farmers from keeping pace with demand.
While soaring food prices have triggered rioting among the starving
millions of the third world, in wealthy Japan they have forced a
pampered population to contemplate the shocking possibility of a long-
term - perhaps permanent - reduction in the quality and quantity of
its food.
A 130% rise in the global cost of wheat in the past year, caused
partly by surging demand from China and India and a huge injection of
speculative funds into wheat futures, has forced the Government to hit
flour millers with three rounds of stiff mark-ups. The latest - a 30%
increase this month - has given rise to speculation that Japan, which
relies on imports for 90% of its annual wheat consumption, is no
longer on the brink of a food crisis, but has fallen off the cliff.
According to one government poll, 80% of Japanese are frightened about
what the future holds for their food supply.
(21 April 2008)
http://www.energybulletin.net/43087.html
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