UN warns of food price hike

The United Nations has warned that food prices in the world's poorest countries could see an increase of between 10-20% in 2011.

The UN Food and Agricultural Organisation (FAO) released its monthly report on Wednesday, 17 November 2010 claiming that more than 70 African and Asian countries will be hardest hit as food prices this year have already risen close to levels seen in the 2008 crisis.

International food import bills could top one trillion US dollars in 2010 - a mark only reached once so far, in 2008 - according to FAO's predictions. The report said the price hike could only be contained if food production expanded sufficiently to replenish stocks next year.


 
For more, visit: https://www.bizcommunity.com