Skip to comments.Global food prices on the rise again: World Bank
Posted on 04/25/2012 9:43:27 AM PDT by NormsRevenge
WASHINGTON (Reuters) - Global food prices are rising again, pushed higher by costlier oil, strong demand from Asia and bad weather in parts of Europe, South America and the United States, the World Bank said on Wednesday.
The latest World Bank food price index showed the cost of food rose 8 percent between December and March. In the previous four months, prices had declined. Even after the latest rise, food prices remain 1 percent below a year ago and 6 percent below the February 2011 historical peak, the World Bank said.
"After four months of consecutive price declines, food prices are on the rise again, threatening the food security of millions of people," Otaviano Canuto, World Bank vice president for poverty reduction and economic management, said in a statement.
"The price indices of grains, fats and oils, and other foods all increased in each month since January 2012," the World Bank said.
The international rice price declined, however, due to abundant supplies of the grain and strong competition among exporters, the poverty-fighting institution said.
If current food production forecast for 2012/2013 do not materialize, global food prices could reach higher levels and required close monitoring, the World Bank cautioned.
(Excerpt) Read more at finance.yahoo.com ...
We’re planting our 1/4 acre garden beginning this week. Our 16 hens should be laying by August.
Obama’s ban on children working on family farms, to replaced with SEIU members at union scale, will surely help this /sarc
as will converting corn into ethanol...
no question about food inflation....buy NOW things that are on some sort of sale.....even if TS DOESN’T HTF you’re still ahead financially...