21/06/2011 10:45
Grain price climbing with 20% and meet with 30%
The World Food prices will continue rising at least till 2020, the joint report issued by the Organisation for Economic Co-operation and Development (OECD) and the United Nation’s Food and Agriculture Organisation (FAO) reads.
According to the predictions of the report the wheat and coarse grain prices are to climb with 20%, the rice with 15%, vegetable oils and sugar with 20%, hen meet with 30% and the butter with 50%.
"Sustained economic growth in emerging markets is an important factor underpinning growing demand and higher prices," notes the report.
Expansion of biofuel production driven by government targets is also expected to create additional demand for wheat, coarse grains, vegetable oils and sugar.