UNFAO Predicts Higher Food Prices
The United Nations’ Food and Agriculture Organization says global food output must rise 70 percent by 2050 to feed a world population expected to grow to 9-billion people. Another cause for concern is that wealthy consumers in developing economies are increasingly eating more meat.
Paul Conway, vice chairman of Cargill, says – you don’t have to be a reviving bull on commodities to believe that the era, which went from the 50’s to the early 80s, of ever decreasing food prices in real terms has probably come to an end.
The FAO food-price index averaged 228 points last year, 23 percent more than in 2010 and above the 200 points recorded in 2008, when food riots erupted from Haiti to Egypt.