Scientific Dictatorship

Tensions rise on surging food prices

NEW YORK (CNNMoney) -- Food prices have been rising worldwide, as the cost of raw materials and agricultural products surge, contributing to political unrest around the globe.

In December, international food prices broke an all-time high when they rose 25% for the year, led by rising costs for staples like rice, wheat, and maize, the United Nations reported...

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Farmers warn of food price rises

BBC

Big rises in food prices are likely over the next year, livestock farmers in Suffolk have told the BBC Politics Show in the East.

The farmers said the rises were likely because of the increased cost of breeding chickens and pigs, due to an increase in the price of feed.

This is partly due to the rise in demand for livestock feed from China.

Farmers told the BBC that the increased cost of feed had not yet been passed on to the consumer.

Pig farmer Peter Mortimer, who has 250 sows at Metfield in Suffolk, said: "It's unsustainable (not to pass on the costs), quite honestly, if we don't get an increase in prices before long, the industry faces a disastrous situation.

"Give it six months on and we will be in despair. I think that whole industry would if we don't get the extra money from the market place. Unfortunately I think it's the end of cheap food."...

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Higher food prices coming, Metro says

The Star

...Sparked by Wal-Mart’s continuing expansion into grocery – 40 more stores are coming this year – this kind of retail competition, along with a higher Canadian dollar, has so far spared Canadian consumers the kind of food price inflation that threatens to erupt in violence in other parts of the world.

But Canadians can expect to see more food price increases in supermarkets soon, the country’s third-largest food retailer predicted this week.

“We do expect some cost increases to be processed through the system starting in February,” Eric La Flèche, president and chief executive officer of Metro Inc., told analysts on a conference call on Wednesday...

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Labels: economy, food crisis, inflation