Stock Up on Foods That Are Getting More Expensive Because of The Drought
Melanie Pinola, Lifehacker, Aug. 8, 2012
Financial experts are warning that food prices are going to go up soon, thanks to the worst drought the US has seen since the 1950s. One of the strategies we can use to offset the rising food costs is to stock up on affected foods.
The USA forecasts prices for all food (groceries and away from home) to increase by 2.5% to 3.5% in 2012, with prices rising in the next six weeks. In 2013, prices will be even higher—up to 4% more overall for just groceries.
The persistent drought is damaging commodity crops like corn and soybeans. Since these are major feedstock for cows, pigs, and chicken, prices for meat especially may be higher—up to 5%. Daily Finance says that a 5% increase in food prices could mean an extra $875 on food spending next year for the average family of four.
According to The Dollar Stretcher, some experts predict meat, milk, and eggs may rise 10%. The article recommends this strategy to save money:
Use sales to stock up on meat this fall. Some farmers unable to buy expensive feedstocks will bring their animals to market early. That may lower prices temporarily. Take advantage of the opportunity, but don’t buy too much.
The USDA’s food storage guidelines say that uncooked meat can be stored for 3 to 12 months (see the chart for particular cuts of meat), while egg whites or egg substitutes can be kept for 12 months.
You can also freeze milk. The general recommendation is the frozen milk will keep for 3 months.
So look out for grocery sales in the coming months so you can stock up.
