World food prices to remain high

[xchrom]

http://www.irishtimes.com/newspaper/breaking/2011/0607/breaking41.html

World food prices measured by the UN’s food agency are likely to be little changed for the month of May following a rollercoaster ride, first with a market-wide sell-off and then a recovery due to supply and weather concerns.

The United Nations' Food and Agriculture Organisation (FAO) is to update its monthly Food Price Index today. The index measures price changes for a basket of cereals, oilseeds, dairy products, meat and sugar.

The FAO's global food index hit a record high of 237 points in February, driven by rising grain prices and tight supplies, but fell in March and then recovered slightly in April, with the agency warning prices could rise again soon.

Governments, especially in developing countries, are trying to contain food prices to avoid a repetition of the 2007/2008 food crisis, when soaring prices sparked street riots. Belarus in May decided to freeze some food prices.

[madrchsod]

1. it`s going to be an interesting fall when the corn and beans are harvested

i`m betting on poor yields and higher prices than last year. transportation costs is going to another factor. the cost of transporting goods could be really high if the barges can`t make it up and down the river.

[Riftaxe]

2. Sounds like it's time to increase the subsidies

to turn more food crops into inefficient ethanol! At least that's how I presume the beltway bandits will take that report.

[Shagbark Hickory]

3. What?! This post isn't about wieners. Unrec.

Only kidding.
Rec and :kick: