Friday, March 11, 2011

FAO To Hold Seminars on High Food Prices

On 8 March 2011, the The Food and Agriculture Organization of the United Nations (FAO) announced that it will, in partnership with stakeholders, run a series of seminars in Africa, Asia and the Pacific, Central Asia, Europe, Latin America, and the Near East to help governments to make informed decisions on how to respond to high food prices.

Global food prices increased for the eighth consecutive month in February. Prices of all commodity groups monitored rose again, except for sugar, according to the FAO Food Price Index. A tightening of the global cereal supply and demand balance in 2010/11 is likely.

With fuel prices on the rise, it would seem that 2011 will be a record breaking year for food costs. In the USA, farmers markets, organic food stores and other small businesses will all be affected.

1 comment:

  1. Inflation is a problem worldwide, but Food inflation would have a greater impact on the developing markets. For example United States only spends on average 10% of income on food, while a developing country like China spends almost 40%. I'd be watching this space closely going forward.

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