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Food Prices To Rise By Up To 40% Over Next Decade, Un Report Warns

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http://www.guardian.co.uk/business/2010/jun/15/food-prices-rise-un-report

Food prices are set to rise as much as 40% over the coming decade amid growing demand from emerging markets and for biofuel production, according to a United Nations report today which warns of rising hunger and food insecurity.

Farm commodity prices have fallen from their record peaks of two years ago but are set to pick up again and are unlikely to drop back to their average levels of the past decade, according to the annual joint report from Paris-based thinktank the OECD and the UN Food and Agriculture Organisation (FAO).

The forecasts are for wheat and coarse grain prices over the next 10 years to be between 15% and 40% higher in real terms, once adjusted for inflation, than their average levels during the 1997-2006 period, the decade before the price spike of 2007-08. Real prices for vegetable oils are expected to be more than 40% higher and dairy prices are projected to be between 16-45% higher. But rises in livestock prices are expected to be less marked, although world demand for meat is climbing faster than for other farm commodities on the back of rising wealth for some sections of the population in emerging economies.

Although the report sees production increasing to meet demand, it warns that recent price spikes and the economic crisis have contributed to a rise in hunger and food insecurity. About 1 billion people are now estimated to be undernourished, it said.

Fairtrade campaigners said the predictions of sharply rising prices provided a "stark warning" to international policymakers.

"Investment to encourage the 1 billion people whose livelihoods rely on smallholder agriculture is vital. Not only will this increase yields but will go a long way to increase prosperity in poverty stricken regions," said Barbara Crowther, director of communications at the Fairtrade Foundation.

"At the same time, the promise of increased agriculture commodity prices could spark a new surge in land grabbing by sovereign wealth funds and other powerful investors which risks marginalising further rural communities who must be included in solutions to secure and maintain food supplies."

So will 40% in a decade be rather more that the BoE 2% YoY inflation target?

Better get those interest rates up now to fight against this looming inflation, because only the flexible tool of interest rates can tackle this problem.

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Food (Corn, Wheat etc etc) is where gold was 10yrs ago. A massive bull move is starting now in food stuffs that will shock even those expecting food to rise.

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we want GM

We want GM

we want GM

What do we want?...GM GM GM GM

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we want GM

We want GM

we want GM

What do we want?...GM GM GM GM

He he.

Sadly its on its way once the sheeple get the bandwagon rolling.

GM is the biggest, most disgusting and sickening con ever devised by mankind.

Monsanto is just as guilty as the big banks of organised theft.

I would rather eat my own sh%t then eat that glyphosate-soaked crap

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I replace all crops with GM crops. They are inserted with a gene that programs them to die and not to reproduce.

Farmers must now repurchase new expensive GM seeds from me forever!

I create nothing, I own!

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Quote:

"Monsanto is just as guilty as the big banks of organised theft.

I would rather eat my own sh%t then eat that glyphosate-soaked crap"

Not made your mind up then.

What about fruit and veg that can now grow in countries in the 3rd world with half as much water and is resistant to disease? No good?

Edited by deflation

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Speculation not shortage is pushing the prices up at the moment.

I don't think that is the case at the moment (it has been a factor and will be). The commodities market overall is hardly up over the decade, but with more expensive oil the input prices will increase to the point where it is not possible to produce agricultural goods unless the prices increase. When the full effect of peak oil (or easily recoverable oil) kicks in again the central banks can waffle until they are blue in the face and nobody will listen to them. Flooding the economy with QE and cheap money to keep it "growing" is going to look so short sigthed over the next few deacdes I doubt they will have a reputation to preserve. The biggest waste of time and money this planet has ever seen is occuring now. The banks are not worth spending one cent on to save compared to what else is coming down the pipe and needs funding.

Edited by OnlyMe

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Not made your mind up then.

What about fruit and veg that can now grow in countries in the 3rd world with half as much water and is resistant to disease? No good?

Conventional horticultural techniques can provide all of that too, cheaper and easier. Better Irrigation techniques can slash water use by vast amounts.

GM is all very clever and expensive but it is not needed or wanted (except by the likes of Monsanto).

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He he.

Sadly its on its way once the sheeple get the bandwagon rolling.

GM is the biggest, most disgusting and sickening con ever devised by mankind.

Monsanto is just as guilty as the big banks of organised theft.

I would rather eat my own sh%t then eat that glyphosate-soaked crap

+1000!

GM is pretty much pure evil!

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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