TV News LIES

Sunday, Nov 23rd

Last update06:52:34 AM GMT

You are here News Environment World on track for record food prices 'within a year' due to US drought

World on track for record food prices 'within a year' due to US drought

E-mail Print PDF

Food prices to riseBrace yourself for some painful "agflation". That is the shorthand for agricultural commodity inflation, otherwise known as rising food prices.

They are being driven upwards by the climb in grain and oilseed prices as US crops weather the country's worst drought since 1936, while the farming belts of Russia and South America suffer through similar water shortages.

What we are seeing represents the third major rally in global grain and oilseed prices in just half a decade.

Worse is to come, new research warns. World food prices look set to hit an all-time high in the first quarter of next year – and then keep rising, according to the analysis from Rabobank, a specialist in agricultural commodities.

By June 2013, the basket of food prices tracked by the United Nations could climb 15pc from current levels, according to the bank's analysts.

"The coming year will see the world economy re-enter a period of agflation as grain and oilseed stocks decline to critically low levels, pushing the FAO [Food and Agricultural Organisation] Food Price Index above record nominal highs set in February 2011," they say.

More...


Most Recent Related Stories...


Polar bear population in parts of Alaska, Canada down by 40 percent

polar bearThe population of polar bears in parts of Alaska and northwestern Canada has declined by about...

Fracking to be allowed in largest national forest on US east coast

fracking to be allowedOver the objection of environmental groups and Virginia’s governor, a federal management plan released on Tuesday...

UN: World not close to avoiding dangerous warming

Climate changeThe world still isn't close to preventing what leaders call a dangerous level of man-made warming,...

White-out conditions, bitter cold blast North, East

White ot conditions cover most of eastPlummeting temperatures and lake-effect snow brought weather havoc to much of the North and East on...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!