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Rising Food Prices & Small Firms

The House of Representatives Small Business Committee held a hearing on rising food prices and their effects on the food chain

The House of Representatives Small Business Committee held a hearing on rising food prices and their effects on the food chain. Witnesses noted that forces such as changing weather patterns, increased global demand for food items in the emerging markets, and record oil prices have created a “perfect storm” and that “no single variable could have caused the current situation on its own.” Witnesses included representatives of the National Farmers Union, National Restaurant Association, American Bakers Association, Grocery Manufacturers Association and the Renewable Fuels Association.