Wholesale food prices rise for 7th consecutive month

February 3, 2011 – World food prices rose to a record high in January, according to the UN’s Food and Agricultural Organization (FAO). The FAO Food Price Index, which measures the wholesale price of basic foods within a basket, averaged 231 points last month, up by 3.4% from December. It is the seventh monthly rise for the index. “These high prices are likely to persist in the months to come,” FAO economist Abdolreza Abbassian said. The individual group components of the index, apart from meat, all registered rises in January. The Cereal Price Index averaged 245 points in January reflecting rises in the price of wheat and grain. This was driven higher by flooding in Australia, which is a major wheat exporter. Rice prices fell slightly as the data coincided with harvests in many countries. The high price of food is thought to have been a factor in recent political unrest in both Algeria and Tunisia in the form of anti-government demonstrations, protests which have spread to neighbouring Egypt and Jordan. Recently, white sugar futures hit a record high over concern that the damage Cyclone Yasi could cause to the Australian cane crop. World Bank President Robert Zoellick has asked global leaders to “put food first” and tackle the problem of price volatility. “We are going to be facing a broader trend of increasing commodity prices, including food commodity prices,” he said. –BBC
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2 Responses to Wholesale food prices rise for 7th consecutive month

  1. Mahati says:

    It’s getting really worse. Food and water is for me the biggest problem. It’s to obvious when I turn to Yemen now.

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    • The specter of famine will soon rear its ugly head across the globe. Recent population swells, declining arable land and food production, and natural disaster’s caustic effect of devastating the natural ecology will collide with a force unseen in human history. We live on the perilous edge of a knife. The Laki volcanic eruptions of 1783-1784 in Iceland collided with the population explosion in France of 70 million French citizens and famine resulted from the worst winter in the 18th century because of the volcanic ash clouds. The horrors of the Terror and the French Revolution sprang up in its wake. Revolution soon unraveled monarchies across Europe. History is repeating itself; this time, with even deadlier consequences. Ceux qui n’apprennent pas de l’histoire sont condamnés à le répéter.

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