18 November, 2010

FAO predicts 2011 20% world food price inflation


The UK Guardian yesterday:

“The UN today warned that food prices could rise by 10%-20% next year after poor harvests and an expected rundown of global reserves. More than 70 African and Asian countries will be the worst hit, said the Food and Agricultural Organisation in its monthly report.

In its gloomiest forecast since the 2007/08 food crisis, which saw food riots in more than 25 countries and 100 million extra hungry people, the report's authors urged states to prepare for hardship.”

“…
food riots in more than 25 countries and 100 million extra hungry people…”

That was 2007/8, how severe will 2011 (and beyond) be?
Check what a non-UN world food analyst says about wheat (the 20% wheat flour price increase I noticed locally)
‘"2011 will not be a good harvest. The condition of winter wheat crops is not good. Neither the US nor Russia are expecting good harvests," said Lester Brown, founder of the Washington-based Worldwatch Institute.’

Buy food and stockpile now, even if you have to use credit. Food won’t get any cheaper in the short or medium term. Stockpiling food and growing food (including raising livestock) are two of the best ways to increase food security.

We have been warned.

No comments:

Post a Comment

 
free counters