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Cargill CEO: Food Prices to Soar $75 a Person Amid Drought

“A crippling drought affecting much of the nation will send food prices rising by $75 per person this year compared to last, said Gregory Page, CEO of U.S. food giant Cargill.

The drought has well over half of the country in its grip and has decimated crop yields, corn especially.

Eventually, less corn will mean higher prices at the grocery store, as many foods are made from corn, which is also a key additive in feed for beef, pork and poultry producers.”

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