Blog: Dean BestOil prices fuel cost concerns

Dean Best | 21 May 2008

All the talk in the food industry may be about rising commodity costs, be it grain, dairy or sugar.

But one cost is rarely mentioned, despite mounting quickly – fuel.

Today, there emerged news that will furrow the brows of many a food industry executive – oil is flirting around US$130 a barrel.

Speculation that China will have to import more fuel in the wake of the Sichuan earthquake, while commodity traders are said to be driving up the price of oil as a hedge against the weak dollar.

Whatever the reason, news of the seemingly ever-rising cost of oil will make sobering reading around food industry boardrooms.


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