World food prices to rise again by 2018: OECD

PARIS - World food prices will rise over the next 10 years but are unlikely to hit the peaks seen during the food crisis in 2007 and 2008, the OECD and the UN's agriculture agency said in a report on Wednesday.
Poor farmers have struggled to meet demand needs and benefit from higher prices, with cereal output rising 13 percent in developed countries but only two percent in developing countries last year, the report also said.

The Organisation for Economic Co-operation and Development and the United Nations' Food and Agriculture Organisation also warned about possible food scarcity in developing countries because of higher prices and climate change.
"On average, the nominal price of all commodities other than pigmeat, will be 20 percent or more above their 1997-2006 average level" between 2009 and 2018, they said in their Agricultural Outlook report.

Wednesday, June 17th 2009

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