Food prices could soar up by 40 percent in next decade, UN reports warns

July 29, 2010 • Farming Practices, Daily Email Recap

Global prices of food could climb by as much as 40 percent in the coming decade, as the global population continues to surge, a new United Nations Food and Agriculture Organization (FAO) report released today says.

The Agriculture Outlook 2010-19 anticipates that wheat and coarse grain prices could jump to levels of between 15 and 40 percent higher than they were between 1997 and 2006, while vegetable oil and dairy prices are also projected to rise by more than 40 percent.

Spikes in livestock prices are not expected to be as marked, even in the face of rising global demand for meat which is set to outpace demand for other commodities as some segments of the population in emerging economies alter their dietary habits due to increased wealth.

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