Food prices to stay high for 10 years
According to a recent UN report, high food prices look set to stay for the next 10 years, with some food groups rising by as much as 50 per cent.
A new report from the UN Food and Agriculture Organisation shows that a number of both human and natural factors will add to the already high cost of food over the coming decade. And while prices should ease from their recent record peaks, they will still remain much higher than in the past 10 years.
The main food groups affected are grains and animal products, with the price of wheat predicted to rise by 20 per cent, butter by 30 per cent, and vegetable oils by over 50 per cent.
The recent hike in wheat prices has been mainly due to drought and poor crops, but future prices will be affected by more than just climate change. Globally, people’s diets are changing, and while western countries may be shifting toward more healthy options, people in Indonesia and India are currently swapping rice for spaghetti, making their predicted consumption of wheat rise by 15 per cent over the next 10 years.
Other factors contributing to high prices include expanding populations, oil prices and a rapidly changing climate.
To view the report and find out more information, click here.
