Staple Food Prices to Rise Up to 45% Over Next Decade, UN FAO Warns
Rice field in Japan, photo: mrhayata via flickr.
The new Agricultural Outlook 2010-2019 report from the UN Food and Agriculture Organization has been released, warning that the price for many staple food products is projected to rise between 15-45%, adjusted for inflation. Balancing that is the projection that global food production over the next decade will be able to expand to keep pace with growing human population. The FAO projects average wheat and coarse grain prices to increase 15-40% over the next ten years, as compared to the average levels between 1997-2006. Vegetable oil prices are expected to increase more than 40%, with dairy prices increasing 16-45%. Prices for livestock are expected to increase, but to a lesser degree than other farm commodities.
Food Distribution & Pricing, Not Production, Cause of Continued Hunger
Distribution and price spikes, rather than food production itself, remain the factor in rises in hunger and lack of food security. The FAO says that though agricultural output with grow more slowly over the next decade than it has in the past, growth will still be sufficient to meet future increases in global human population. By 2050 the FAO says a 70% increase in food production will be required to keep pace with projected population growth.
Read the full report: OECD-FAO Agricultural Outlook 2010-2019
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