Food prices 'to carry on climbing all year' in the UK

The United Nations Food and Agriculture Organization (UN FAO) said that turmoil in north Africa and the Middle East was behind the fresh spike in the price of wheat and cooking oil, with many governments hoarding food. The UN Food and Agriculture Organisation's (FAO's) food price index averaged 236 points in February, a record, up 2.2 percent from January and rising for the eighth month in a row.

The index highlights how food prices, which throughout most of the last two decades have been stable, have taken off in alarming fashion in the last three years. In 2000 the index stood at 90 and did not break through 100 until 2004. If crude oil a key cost for farmers and shipping companies moving commodities around the world continues to climb prices will climb yet higher, the UN warned. Read more ...

This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine from Perendale Publishers.