According to report from the U.N. Food and Agriculture Organisation (FAO) and the Organisation for Economic Cooperation and Development (OECD), higher food prices and volatile commodity markets are here to stay. The report said a good harvest in the coming months “may keep prices below the extreme levels seen earlier this year.” However, this is about to change. The driving factors will be high energy prices, on the one hand, which are affecting input costs, and also demand for biofuels on the other side. Fortunately, the food security crop in Asia and parts of Africa, is not being dramatically affected right now. Read more here.
Filed under: newsflash | Tagged: 2007–2008 world food price crisis, Africa, Asia, Food and Agriculture Organization, food security, Multilateral, Organisation for Economic Co-operation and Development, United Nations |