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World food prices hit new record

By Agence France-Presse
Thursday, February 3, 2011 8:18 EDT
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ROME – World food prices hit a new record high in January after rising for a seventh consecutive month, the UN’s Food and Agriculture Organisation (FAO) said Thursday, warning the poor would be hit hardest.

The FAO Food Price Index, which monitors monthly price changes for a basket of commodities, averaged 231 points in January — up 3.4 percent from December and its highest level since FAO started measuring food prices in 1990.

“The new figures clearly show that the upward pressure on world food prices is not abating. These high prices are likely to persist in the months to come,” FAO economist and grains expert Abdolreza Abbassian was quoted as saying.

The rises were particularly high for dairy products — up 6.2 percent from December — and oils and fats rose 5.6 percent from the previous month, while cereals went up 3.0 percent because of lower global supply of wheat and maize.

Meat prices remained broadly stable due to a fall in prices in Europe caused by last month’s scare over dioxin poisoning in eggs and pork in Germany, compensated by a slight increase in export prices from Brazil and the US.

“High food prices are of major concern especially for low-income food deficit countries that may face problems in financing food imports and for poor households which spend a large share of their income on food,” Abbassian said.

“The only encouraging factor so far stems from a number of countries where — due to good harvests — domestic prices of some of the food staples remain low compared to world prices,” he added.

FAO data released on Thursday showed the Food Price Index hit 200 points in 2008 at the height of the 2007/2008 food crisis. It breached that level for the first time in October 2010 with 205 points and has risen further since then.

Agence France-Presse
Agence France-Presse
AFP journalists cover wars, conflicts, politics, science, health, the environment, technology, fashion, entertainment, the offbeat, sports and a whole lot more in text, photographs, video, graphics and online.
 
 
 
 
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  • jackal

    No mention of Monsanto? I would estimate they this corporation could be blamed for 50% of present or future starvation.

  • http://twitter.com/home KerrynowCampau

    This may help explain it to you…

    http://www.truth-out.org/the-egyptian-tinderbox-how-banks-and-investors-are-starving-third-world67424

    ” The history of food took an ominous turn in 1991, at a time when no one was paying much attention. That was the year Goldman Sachs decided our daily bread might make an excellent investment….

    Robber barons, gold bugs, and financiers of every stripe had long dreamed of controlling all of something everybody needed or desired, then holding back the supply as demand drove up prices.”

  • Anonymous

    Commodities speculation. The Ed Show had a great report 2 nights ago. Wall Street uses our food commodities to gamble and make more piles of money off the poor and middle class. Beck better put the US on his map – we are angry, too.

  • Anonymous

    Hempcar.org talks of Hemp Ethanol, not sure how to make it though…
    But a still could make for a useful hobby.

    http://www.hempcar.org/petvshemp.shtml

  • Anonymous

    I believe Monsanto holds the patent of Agent Orange. They are about as evil as one can get, and Agent Orange is just a tiny tip of their iceberg. RoundUp the bastards.

  • http://www.rawstory.com/ hounddogg

    it’s the same process that is used to make wood alcohol… there are a few ways to do it and you can use just about any kind of plant material…you use a diluted acid tho start the fermentation and then you distill it to get the alcohol…there are some enzymes that will do the job that have recently been developed…this process will turn noxious weeds like scotch broom, spotted napweed ,etc into cash crop…

  • Anonymous

    Thank you for your info, will check out —

  • Anonymous

    hopeforchangenow

    Sorry not familiar with the Ed Show—I hope never to watch Beck who I think
    is the silliest excuse for someone needed to fill air time on TV. The two
    people I do pay attention to are Paul Krugan and Simon Johnson. They
    represent some of the best and most comprehensive thinkers on the economy
    today bar none.

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