OECD AND FAO SAY HIGH FOOD PRICES HERE TO STAY
June 1st, 2011
BY KEITH NUTHALL
A major international report has predicted food commodity prices will be much higher this decade than in the last. The Organisation for Economic Cooperation & Development (OECD) and the Food & Agriculture Organisation (FAO) have projected maize costs will be almost 20% higher this decade on average, and rice more than 15% higher. Also, it predicts butter prices will soar worldwide and stay high, rising more than 45%, with poultry prices increasing 30% to 35%. Wheat prices are projected to remain stable, but generally, cereal prices could ...
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