Regular Mad Money viewers are no stranger to Cramer’s rants against government-mandated ethanol. He blames the bio-fuel, at least in part, for sky-high food prices. But General Mills CEO Kendall Powell said there’s more to it than that.
Growth in the global economy is driving up food inflation, Powell said during a Stop Trading! appearance Thursday. High commodities prices are the inevitable outcome of China and India’s demand for a better diet as these countries develop.