Post by Bonobo on Feb 7, 2011 21:54:17 GMT 1
Food prices highest in twenty years
04.02.2011 11:51
Food prices are at the highest level in 20 years and are expected rise further, according to a new UN report.
The report, which was released by the UN’s Food and Agriculture Organisation (FAO), shows that food prices went up by 3.4 percent last month – indicating the highest level of food prices, both real and nominal, since 1990, when the FAO started recording the figures.
Agriculture and Rural Development Minister, Marek Sawicki has said that the hike in food prices at the turn of the year has been caused by speculation on global markets.
Talking to Radio Podlasie on Friday morning, Sawicki said that agricultural produce has become a commodity on financial markets to the same extent as energy raw materials.
Not local markets but rather the global economy decides on food prices, Minister Sawicki explained, adding that even though prices of agricultural produce may drop in the second half of 2011, it does not mean a drop in actual food prices.
04.02.2011 11:51
Food prices are at the highest level in 20 years and are expected rise further, according to a new UN report.
The report, which was released by the UN’s Food and Agriculture Organisation (FAO), shows that food prices went up by 3.4 percent last month – indicating the highest level of food prices, both real and nominal, since 1990, when the FAO started recording the figures.
Agriculture and Rural Development Minister, Marek Sawicki has said that the hike in food prices at the turn of the year has been caused by speculation on global markets.
Talking to Radio Podlasie on Friday morning, Sawicki said that agricultural produce has become a commodity on financial markets to the same extent as energy raw materials.
Not local markets but rather the global economy decides on food prices, Minister Sawicki explained, adding that even though prices of agricultural produce may drop in the second half of 2011, it does not mean a drop in actual food prices.