Food Prices Hit “Dangerous Levels”

World Bank chief Robert Zoellick says global food prices have reached “dangerous levels,” and warns that their impact could complicate fragile political and social conditions in the Middle East and Central Asia. World Bank data released on Feb. 15 showed higher food prices – mainly for wheat, maize, sugars and edible oils – have pushed

Africa, Caribbean Urged To Brace For Food Price Shocks

The World Bank and International Monetary Fund are warning poor regions that have so far not been hit by rising food prices, like sub-Saharan Africa and the Caribbean, to get ready to face them. Food price volatility is here to stay, the World Bank cautioned, amid growing worries there could be another full-blown food crisis


U.S. Says Its Policy Not To Blame

U.S. Federal Reserve chairman Ben Bernanke said Feb. 3 it was “unfair” to blame U.S. monetary policy for pushing up inflationary pressures in emerging market economies. Some analysts have blamed the fed’s quantitative easing for flooding the global economy with money and helping to drive prices for food and other commodities higher. “It’s entirely unfair

Mind The Global Output Gap

Escalating food and fuel prices are a sign the global economy is approaching full resource utilization and the limits of sustainable output. Policy-makers, commentators and investors are still fiercely debating whether high unemployment and idle factories in the United States and Europe are caused by cyclical lack of demand (in which case Keynesian demand management


Spoiled Beans Highlight Brazil’s Inflation Challenge

One bad harvest of beans in Brazil is causing massive headaches for new President Dilma Rousseff and showing just how difficult it is for policy-makers worldwide to combat a recent jump in food inflation. The retail price of beans – a staple that many Brazilians consume in virtually every meal – went up more than

Heavy Rains To Increase Colombia Inflation

Strong rains flooding agricultural land and washing away roads in Colombia will increase inflation but not so much as to change consumer price targets, officials said Dec. 6. Bad weather has affected commodity-producing countries worldwide, from rains stalling the wheat harvest in Australia to dry spells in some of Argentina’s soy-growing areas and oil refinery


Commodity Price Pressure Made In China

Canola futures on the ICE Futures Canada trading platform suffered some price weakness during the week ended Nov. 19, but were well off the lows established. The continued liquidation of long positions by nervous speculative fund account holders generated the declines. That selling was again inspired by a knee-jerk reaction to news that the Chinese

Food Prices Seen Lower Than In 2007-08 – for Sep. 16, 2010

Rising prices for a wide range of agricultural commodities are stirring fears of global food-driven inflation, but there should be no repeat of the crisis seen in 2007-08 unless governments start to panic. Analysts cite much higher global stocks of staples such as wheat and a more challenging economic environment as factors which should temper


Cash On Hand Could Save The Farm

There will be more business opportunities in agriculture the next 10 years than there’s been in the last 30, according to agricultural economist David Kohl, the keynote speaker at the Manitoba Special Crops Symposium Feb. 10 in Winnipeg. But there will also be more ways to go broke, he cautioned. Farmers can protect themselves through

Argentina Reacts To Soaring Steak Prices

Argentina’s government has tightened up restrictions on beef exports in a bid to stem surging prices at butchers’ shops that are fanning fears about inflation, industry sources said Feb. 12. Argentina is one of the world’s biggest exporters of beef, but the government has curbed shipments sporadically over the past four years in order to