Corn is selling under the cost of production, yet the price at the grocery store remains the same and food processors are continuing to blame ethanol producers for high food prices. Corn growers in Missouri are fighting back to get the truth out to consumers.
Missouri Corn Merchandising Council chairman Keith Witt of Warrenton says, “Judging by the record profits and smaller packaging, the motive of big food companies is crystal clear. Their focus is on their bottom line – at the expense of farmers and consumers.”
And that bottomline looks pretty good right now. This quarter alone, Kraft boasted a net income of $1.4 billion – more than double last year’s results. Sales at Kellogg’s climbed 9.5 percent and third-quarter net income increased from $305 million last year to $342 million this year.
“Consumers deserve the truth and America’s farmers deserve an apology,” Witt concluded.
To that end, Missouri Corn has launched a series of radio ads to help educate consumers on the “sticky pricing” in today’s food industry. The spots question how grain prices have dropped, yet food prices remain the same, therefore eliminating the blame ethanol has unfairly been given.