In California, drought expected to mean higher food prices

California's drought -- marked Wednesday with an official declaration by Gov. Arnold Schwarzenegger -- is expected to deliver a tremendous blow to the San Joaquin Valley's multibillion-dollar agriculture industry.

Food prices will climb. More farmland will be fallowed. Farm jobs will be trimmed.

Many growers on the Valley's west side will be shopping for extra water. Many will be pumping water from the ground and lowering the underground water table.

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