TV News LIES

Wednesday, Sep 02nd

Last update09:26:11 PM 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...


Triple threat: Earthquakes rattle California, Oklahoma, Oregon

earthquakes hit three statesNo injuries or major damage was reported Monday after earthquakes rattled cities in California, Oklahoma and...

Big Bank Says It’s Going To Cost A Lot To Do Nothing On Global Warming

Big Bank comment about global warming consequencesA new report from Citibank found that acting on climate change by investing in low-carbon energy...

EPA Urged by Nearly 100,000 in the US to Redo Highly Controversial Fracking Study

EPA study controversialThe public comment period for the highly controversial US Environmental Protection Agency’s (EPA) fracking study ends...

General Mills Warns Climate Change Will Lead To Global Food Shortages

General Millsn a rebuff to climate deniers, the CEO of American food giant General Mills has asserted...
 
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!