Global food prices predicted to stagnate
Which will be a marked change from the last 15 years.
by Marcus Roberts
The Organisation for Economic Cooperation and Development and the United Nations’ Food & Agricultural Organisation have prepared a joint report on the forecasted global food market for the next 10 years. According to this report, food prices are expected to stagnate at a level slightly higher than they were before the global food price spike of 2007-2008. This is good news, because global food prices have more than doubled since 2001 due to population growth and rising incomes which saw a greater demand by more consumers for meat than in the past. (Meat being more costly than grains and oilseeds. See here for our recent blogpost on China’s meat consumption.) In 2011, the global food prices spiked at three times the 2000 level.
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The Organisation for Economic Cooperation and Development and the United Nations’ Food & Agricultural Organisation have prepared a joint report on the forecasted global food market for the next 10 years. According to this report, food prices are expected to stagnate at a level slightly higher than they were before the global food price spike of 2007-2008. This is good news, because global food prices have more than doubled since 2001 due to population growth and rising incomes which saw a greater demand by more consumers for meat than in the past. (Meat being more costly than grains and oilseeds. See here for our recent blogpost on China’s meat consumption.) In 2011, the global food prices spiked at three times the 2000 level.
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