TV News LIES

Tuesday, Mar 31st

Last update01:34:25 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...


Big Oil Pressured Scientists Over Fracking Wastewater's Link to Quakes

Oklahoma frackingIn November 2013, Austin Holland, Oklahoma’s state seismologist, got a request that made him nervous. It...

Northeast Resists More Pipelines, Despite Higher Energy Costs

northeast resists pipelinesThere is near universal agreement that the Northeast has to expand its energy supply to rein...

Antarctica Recorded Its Hottest Temperature Ever This Week

Antartica hottest week everThe coldest place on Earth just got warmer than has ever been recorded.According to the weather...

Fracking Town’s Desperate Laid-off Workers: ‘They Don’t Tell You It’s All a Lie’

Fracking lay offsOnly a year ago, Williston’s shale oil explosion was still gushing jobs. From 2010 to 2014,...
 
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!