Blog: Dean BestCounting the real cost of soaring food prices

Dean Best | 12 March 2008

The price of wheat has soared 130% in the past year and with a global population expected to top 9bn by the middle of the century, pressures on the world's resources such as land, water and oil show no sign of abating.

Yet it’s not just the price of wheat that has risen in the last year. Other staples such as corn and soya are trading at well above their 1990s averages, with an 87% rise in soya and a 31% increase in corn.

As we have discussed on these pages before, a large cause of this is the rising price of oil and fears over climate change which have seen a tremendous uptake in the use of maize to make bio-fuels, which in turn has pushed food prices right up.

There is little doubt that food inflation has become an emotive topic in the world's media and the subject has the potential to be hijacked by any number of interest groups. It's useful then to be able to fall back on some hard facts every now and then.

That's just what the BBC has done this week as part of its look at the subject and these tables - the link is below - are worth bookmarking.

 

Click here for the BBC's breakdown of facts and figures surrounding the cost of food


BLOG

Danone closes WhiteWave, who will acquire Stonyfield?

Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...

BLOG

Premier Foods pension news offers cheer but challenges remain

Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....

BLOG

Another reshuffling of pack at Hain Celestial

Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....

BLOG

FrieslandCampina looking to sell final non-dairy asset

FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....

just-food homepage



Forgot your password?