Friday, April 6, 2012

Just in--

UN Food Agency Warns of High Global Prices

New York--With tight world stocks of corn and other grains, the United Nations Food and Agriculture Agency is concerned about a three-month trend of price hikes and global food insecurity.

An FAO index of monthly price changes for a basket of cereals, oilseeds, dairy, meat and sugar averaged 215.9 points in March, below the February 2011 peak of 237.9, but “higher than during a food price crisis in 2007-08 that raised global alarm,” according to a Reuters story.

Both tight commodity supplies and high oil prices are driving the food price trend, the article says.

Reuters article

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