Monday, May 23, 2011

Why food prices rise

"Another contributor to the high price of food is MOSAIC. It is a publically traded arm of Cargill the world's largest privately held company. Because it is privately held Cargill's profits and how they are obtained are not public but it's safe to say that Cargill controls much of the world's potash and phosphate two of the main ingredients of chemical fertilizer. Associated Press (2011) reported that Cargill's net earnings in the first quarter of 2011 was up 23 percent from a year ago and the company is on a buying spree and is planning to sell its shares of the highly profitable MOSAIC."

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