A great article here. I quote some extracts:
Most governments now agree that the astounding surge in food prices last year – the cost of food rose almost 40 per cent globally, according to the United Nations’ Food and Agriculture Organisation, and has continued to rise this year – is structural, meaning that prices will not retreat to former levels. This is because newly wealthy consumers in countries such as China and India, who can increasingly afford to improve their diets, as well as the biofuels industry, are expected to maintain a rapacious demand for basic food commodities such as wheat, corn and soyabeans.
Technorati Tags: Agriculture,Inflation
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